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Barclays Expect CRBT To Remain On Hold

TURKEY
  • Barclays expects the CRBT (Wed) to keep rates on hold and to maintain its dovish communication.
  • Last week, both President Erdogan and the Minister of Finance commented that the new Turkish economic model is working.
  • This offers no support to the TRY; hence, analysts expect it to remain under significant pressure.
  • The pressure should be most visible in TRY/USD swap rates that will likely continue to increase.

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