The Central Bank of Turkey (CBT) is expected to leave rates unchanged at 50% today. The main focus will be on the central bankers’ tone and forward guidance for the first rate cut, ING’s Frantisek Taborsky notes. USD/TRY to trade at 35.000 at year-end “In the latest inflation assessment, while acknowledging slower-than-expected disinflation so […]
As expected, the Central Bank of Turkey (CBT) left rates unchanged at 50% and added a bit to its hawkish communication. The statement turned cautious as a result of increasing uncertainty surrounding the pace of inflation improvements. The CBT reiterated that its tight monetary stance would lead to a) a decline in the underlying trend of […]
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Share: The Turkish Lira still appears to be kept stable by policymakers. But, rate hikes have lagged market expectations and inflation has begun to re-accelerate. Subsequently, economists at Commerzbank have revised up their USD/TRY forecast. Inflation-FX spiral may have restarted The current set of policies cannot be viewed to have resolved longstanding problems […]
