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Barclays: Sees Rates Unchanged Throughout 2022

CBRT
  • Despite ongoing pressure on the TRY and deteriorating inflation, we do not expect the CBT to change its stance.
  • Although we keep our policy rate forecast unchanged at 14% for the rest of this year, there is a high a non-negligible risk of a big rate hike in Q4 22, as the energy bill is likely to exert significant pressure on foreign reserves in winter months.
  • If this risk materializes, we would expect the CBT to deliver a big front-loaded hike.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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