December 18, 2023 08:33 GMT
CBRT Governor Reiterates Tightening Cycle Has Almost Approached End
- CBRT Governor Hafize Gaye Erkan said its monetary tightening cycle has approached an end and called on foreigners to invest in lira-denominated government bonds at current favourable returns. The comments came as part of an interview with Hurriyet over the weekend. She added that tight monetary policy has started to have an effect on consumer prices, but single digit inflation won’t be achieved before 2026.
- President Erdogan will meet with Hungarian Prime Minister Orban in Budapest today where the pair are expected to sign agreements to strengthen cooperation in various areas and boost bilateral trade.
- The CBRT rate decision is the key event of the week on Thursday where a 250bp rate hike is the overwhelming consensus among sell-side.