What is the impact of the central bank's recent interest rate hike?
The recent increase in the central bank's interest rate corridor to the range of 26-34%, beyond a simple change in money market rates, is the return of interest rates to the position of one of the active tools of monetary policy.
Since January 1401, despite the extensive changes in inflation, liquidity and the currency market, the rates of the monetary policy corridor have remained stable; An approach that brought the risk of turning the interest rate into an administrative and low number in the change.
Long-term stability of policy rates can weaken the practical role of monetary policy and bank management.
On the other hand, the constant variation of the interest rate causes households, companies and institutions to consider it in their savings and financing decisions.
The important achievement of this decision will be realized when the interest rate change is not limited to an exceptional measure, but will become part of the normal and permanent monetary policy framework so that the central bank will respond in accordance with economic developments.
The real effectiveness of this tool depends on the continued measured reactions of the central bank and the transfer of its influence to the banking network and the economy.
Full text.
The official channel of Donya Akhtaz newspaper.