Turkiye’s monetary policy committee (MPC) recently decided to keep the policy rate (one-week repo auction rate) constant at 9 per cent. A strong growth was observed in the first three quarters of 2022. Indicators for 2022’s last quarter show a slowdown in growth due to the weakening foreign demand is compensated by the relatively strong course in domestic demand.The effects of foreign demand-based pressures observed in the manufacturing industry on domestic demand and supply capacity currently remain limited, the country’s central bank said in a release.
Compared to peer economies, job creation has been stronger. Considering the sectors that contribute to the employment increase, it is observed that the growth dynamics are supported by structural gains.
Turkiye's monetary policy committee recently decided to keep the policy rate (one-week repo auction rate) constant at 9 per cent. A strong growth was observed in the first three quarters of 2022. Indicators for 2022's last quarter show a slowdown in growth due to the weakening foreign demand is compensated by the relatively strong course in domestic demand.
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