Hakan Kara: Likelihood of Central Bank rate cut in October has increased

Published 20 Sept, 14:14 Photo: Oda TV

This story is from 20 September 2026.

Latest in the series İsmail Saymaz, Murat Ağırel and Şaban Sevinç to testify in fund probe 8 Oct, 22:38

Former Central Bank chief economist Prof. Dr. Hakan Kara said recent fund market developments could slow growth and ease inflationary pressures, noting a 100-basis-point rate cut may be preferred at the Central Bank (TCMB) October meeting.

Kara stated that under normal conditions such a negative shock could bring a 150-200 basis point cut onto the agenda, but that risks of a shift to foreign currency and reserve loss limit the Central Bank's hand. Therefore, he expects a more cautious step.

Hakan Kara: Likelihood of Central Bank rate cut in October has increased

Fund Investigation News Series

Where it began 16 Sept 2026 Tera Portföy declares default in two funds, payment periods extended in six funds

8 Oct 2026 22:38 İsmail Saymaz, Murat Ağırel and Şaban Sevinç to testify in fund probe Istanbul's Chief Public Prosecutor's Office ordered journalists İsmail Saymaz, Murat Ağırel and Şaban Sevinç to give statements as suspects as part of its fund investigation.
8 Oct 2026 20:40 Fund crisis inquiry motions rejected by AK Party and MHP votes Yeni Yol, CHP, İYİ Party and DEM Party's Turkish Grand National Assembly (TBMM) inquiry motions on the fund crisis were rejected by votes from AK Party and MHP lawmakers.
8 Oct 2026 16:40 10-article bill on liquidation of 131 funds due in Turkish parliament next week A 10-article interim bill for the 131 funds placed under liquidation is planned to go to the Turkish Grand National Assembly (TBMM) next week. The funds total about 1 trillion lira (TL).
8 Oct 2026 16:40 YENİ Party's Ümit Özlale names two ministers in fund crisis YENİ Party İzmir deputy Ümit Özlale called on Turkish Trade Minister Ömer Bolat and Turkish Family and Social Services Minister Mahinur Özdemir Göktaş to disclose fund transactions.
20 Sept 2026 14:14 Hakan Kara: Likelihood of Central Bank rate cut in October has increased Former Central Bank chief economist Prof. Dr. Hakan Kara said recent fund market developments could slow growth and ease inflationary pressures, noting a 100-basis-point rate cut may be preferred at the Central Bank (TCMB) October meeting.