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CBRT Statement Marginally More Cautious, USD/TRY Little Changed Thus Far

TURKEY
  • Overall, not a huge amount of changes to the statement, which sounds marginally more hawkish/cautious regarding volatility in pricing dynamics over the summer
  • Sell-side institutions expect CPI to rise to 18-19% before peaking in September/October
  • CBRT remains positive about the current account surplus, which is at odds with some projections from the sell-side- reiterates rates to be kept above inflation until it slows significantly
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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