Free Trial

ING Forecast CBRT to Maintain Rate at 50% For Longer

TURKEY
  • The CBRT’s stance with the additional tightening moves announced today will contribute to a return to the disinflation path, according to ING.
  • Support from the fiscal policy will likely be limited given the relatively small size of the recently announced package of measures, which include cutting purchases of goods and services and investment spending to control the widening in the budget deficit.
  • Assuming the currency follows a more stable course for the rest of the year with the continuation of the tight monetary stance, ING expect inflation to be in the CBRT’s forecast range with the central bank keeping the policy rate on hold at 50% for longer. ING factor in a small cut by end-2024.
115 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
  • The CBRT’s stance with the additional tightening moves announced today will contribute to a return to the disinflation path, according to ING.
  • Support from the fiscal policy will likely be limited given the relatively small size of the recently announced package of measures, which include cutting purchases of goods and services and investment spending to control the widening in the budget deficit.
  • Assuming the currency follows a more stable course for the rest of the year with the continuation of the tight monetary stance, ING expect inflation to be in the CBRT’s forecast range with the central bank keeping the policy rate on hold at 50% for longer. ING factor in a small cut by end-2024.