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CBRT Governor Says No Premature Easing Ahead, Despite Erdogan Pressure

TURKEY
  • TURKISH CENTRAL BANK GOV. KAVCIOGLU: CONCERNS OVER PREMATURE POLICY EASING SHOULD BE IGNORED
  • This comes in direct opposition to Erdogan comments overnight saying "we must lower rates"- Opposing Erdogan beyond the July-August period cited could lead to Kavcioglu's removal if he fails to deliver what he was installed to do - which is cut interest rates
  • TURKISH CENTRAL BANK GOV. KAVCIOGLU SEES INFLATION ENTERING A SIGNIFICANT FALLING TREND AT THE END OF Q3 OR Q4
  • CBRT CHIEF PLEDGES TO KEEP POLICY RATE ABOVE EXPECTED INFLATION
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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