CANADA FLASH MAY GDP +0.1% ON FACTORIES AND REAL ESTATE

MNI China Daily Summary: Friday, June 28

MNI BRIEF: PBOC Pledges to Curb Any Overshoot Of The Yuan: MPC

MNI: PBOC Net Injects CNY40 Bln Via OMO Fri; Rates Unchanged

CHINA PBOC CONDUCTS CNY50 BILLION VIA 7-DAY REVERSE REPOS FRI

MNI: PBOC Sets Yuan Parity Lower At 7.1268 Fri; -0.32% Y/Y

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

EZ/UK Bond Supply Calendar: BoE APF on Monday

Labour Market Data Continues To Signal Ongoing Softening

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

JPMorgan: Still Expect Regular 250bp Rate Hikes

TURKEY
  • JP Morgan maintain their year-end policy rate forecast at 30%, and still expect a 250bp hike at each meeting by the end of the year.
  • Recent communication suggests gradual tightening to avoid a recession ahead of the March 2024 local government elections, JPM say. They have revised up their 2023 full-year GDP growth forecast to 4% (Prior: 3.2%).
  • JPM have also revised up their year-end inflation forecast to 57% (Prior: 50%) and now expect headline inflation to peak at 64% in May 2024 due to unfavorable base effects in natural gas prices and pre-election stimulus. The 2024 year-end inflation forecast is revised up to 34% (Prior: 26%).
  • The Turkish authorities believe that FDI inflows and tourism revenues allow the increase in foreign exchange reserves to continue and also contribute significantly to price stability. Taking into account that view, JPM do not expect significant tightening from the CBRT until the March 2024 local elections.
BulletEM BulletEmerging Market NewsHomepage
BulletEM BulletEmerging Market NewsHomepage

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.