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CBRT Rate Decision in 30 Minutes (1200BST/1300CET)

TURKEY
  • The CBRT are expected to deliver a significant rate hike following the appointment of a new Treasury and Finance Minister and central bank Governor.
  • Both appointments signal a return to more orthodox monetary policy though there remains high uncertainty regarding the magnitude of the hike in June as well as the pace of a return to conventional policy more broadly.
  • Among sell-side analysts, there is wide range of views surrounding the scale of the potential rate hike with Bloomberg estimates ranging from 14% to 40%.

See our full preview of the decision here: https://roar-assets-auto.rbl.ms/files/54263/MNICBRTPrevJun23.pdf

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