Rates lowered, statement softened

TURKEY - Report 23 Jan 2025 by Murat Ucer

The Monetary Policy Committee reduced the policy rate by another 250 bps to 45% today (see chart), in line with expectations. There were not a whole lot of noteworthy changes in the statement, except for, importantly, the removal of detailed references to the monthly pace of inflation and inflation expectations from the previous statement.

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