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CBRT May Imply a Protracted Holding Period Via Keeping Rates Above Inflation

TURKEY
  • TURKISH CENTRAL BANK DOES NOT REPEAT LAST MONTH'S PLEDGE THAT 'ADDITIONAL MONETARY TIGHTENING WILL BE DELIVERED IF NEEDED'
  • TURKEY'S CENTRAL BANK SAYS SEEKS PERMANENT FALL IN INFLATION
  • POLICY RATE WILL CONTINUE TO BE DETERMINED AT A LEVEL ABOVE INFLATION TO MAINTAIN A STRONG DISINFLATIONARY EFFECT
  • Policy rate will remain above inflation is a key comment wit inflation expected to reach a cyclical peak at 18-19% this year implying a protracted period of holding
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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