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CBRT Rate Decision in 15 Minutes (1200BST/1400 local time)

TURKEY
  • The CBRT are expected to keep rates on hold following guidance in previous meeting statements that current rates are now “adequate” to support the economy.
  • Sell-side are uniform in seeing rates held at 8.5% ahead of the Presidential runoff elections on May 28.
  • Significant TRY weakness and persistent downward pressure on the CBRT’s FX reserves leaves little room for manoeuvre.

See our full preview with sell-side analyst views here: https://roar-assets-auto.rbl.ms/files/53087/MNICBRTPrevMay23.pdf

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