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CBRT Rate Decision Coming Up (11:00GMT)

TURKEY
  • The CBRT rate decision takes focus shortly (11:00GMT), where the one-week repo rate is expected to remain on hold at 45% as officials have communicated previously that its hiking cycle is complete.
  • Nevertheless, the recent acceleration in TRY depreciation and increasing pressure on Turkish FX reserves may prompt a hawkish surprise, which a minority of analysts foresee.
  • See the full MNI Preview, with a summary of sell-side views, here.

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