CBRT (MPC) interest rate decision

What it means for gold

1. After the release Oct 22, 2026 13:44

   Fact: TCMB (Turkey’s central bank) on 22.10.2026 at 11:00 UTC (13:00 in Poland) lowered the main rate from 37% to 36%. Overnight rates for banks (lending and deposit) fell by one percentage point, to 39% and 34.5%. Context: According to the bank, inflation is slowing, and domestic demand is weak. It warned that expensive energy could push it up again, and that if the inflation outlook deteriorates significantly and persistently, it will tighten policy. Lower rates mean lower interest on deposits in lira. Gold does not pay interest, so holding it instead of a deposit costs less. When the lira weakens against the dollar, gold priced in lira becomes more expensive. We do not know the scale.

   Sources: ¹TCMB, Press Release on Interest Rates (2026-45), 22.10.2026²TCMB kalendarz (godzina 11:00 UTC)

Summary prepared with the help of AI and reviewed by the XAU SELECT editors. Approved by: Ireneusz Pukin. About the editors