For the fourth consecutive session, the Turkish lira continues to decline and is approaching its lowest level ever recorded in December last year at 17.72, trading at 17.64 levels this Thursday morning, July 21 (July) just hours before the Turkish Central Bank meeting to determine the bank’s monetary policy and interest rates.

The expectations are for the bank to keep monetary policy and interest rates at 14% unchanged today as it is estimated that the Turkish Central Bank may keep current interest rates for at least a year in line with the government’s current program based on exports and credit to fuel growth.

And a Reuters poll issued in the middle of the week showed that inflation in Turkey is expected to decline to 70% by the end of this year, after it approached the 80% levels in the June reading, in the highest inflation reading in 24 years, with expectations that it will reach 84% as a peak level before It will start to decline in the last quarter of this year.

The latest economic figures issued by the Turkish economy yesterday, Wednesday, showed that the consumer confidence index, according to the report of the Turkish Statistical Institute, rose to 68 points from 63.4 points in June.