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CBRT Rate Decision Coming Up (1200BST/1400 local)

TURKEY
  • Further tightening from the CBRT is expected, with the benchmark one-week repo rate expected to be raised by 500bps to 35%.
  • In addition to tightening via the key rate, the central bank will likely continue to tweak the rules and regulations around FX tools and KKM accounts to manage financial conditions.
  • Of the sell-side estimates we have previewed, most are expecting a 500bp policy rate increase though downside risks are noted by some.
  • See our full preview, with a summary of sell-side analyst views, here.

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