The Central Bank of the Republic of Turkey (CBRT) will announce the first interest rate decision of 2022 at 14.00 today. Gold prices are affected by many domestic and international events – the CBRT’s decision is expected to be one of the important factors in the price of the precious metal. So what should investors expect? cryptocoin.com We are giving the details as…
Eyes on the CBRT’s interest rate decision: How will gold prices be affected?
In December, annual inflation broke the record of the last 19 years with 36.08 percent. After that, the next data observed by the markets was the interest rate decision. Although some think that the precious metal will break with the announcement of the interest rate decision, in general, experts think that the interest rate will be kept constant. The interest rate decision will be announced by the Central Bank Governor Şahap Kavcıoğlu at 14.00.
Societe Generale expects the CBRT to keep interest rates constant around 14 percent in January. On the other hand, Unicredit thinks that the CBRT will keep its interest rate decisions fixed. Another bank that conveyed its expectations regarding the fixed interest rate decision was Bank of America. According to Bank of America, the Central Bank of the Republic of Turkey will keep the policy rate constant until the end of the first quarter. On the other hand, Treasury and Finance Minister Nureddin Nebati stated that inflation peaked in January, but that there would be a decrease as of May. As we move towards the end of the new week, it is noteworthy that gold has been climbing in the free market. Gram gold rose to 797 liras. Quarter gold is changing hands at around 1,309 liras. Meanwhile, an ounce of gold is changing hands at around $1,840.
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