CANADA TO PUBLISH FISCAL UPDATE ON DEC. 16

MNI BRIEF: Inflation Expectations Tick Higher - NY Fed

MNI BRIEF: China Passenger Car Sales Up In November Y/Y

MNI BRIEF: Mexico Inflation Down To 4.55% In November

MNI China Daily Summary: Monday, December 9

MNI BRIEF: China To Strengthen Policy Easing In 2025: Poliburo

MNI:US OCT WHOLESALE INV 0.2%; SALES -0.1%

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

MNI BRIEF: China Nov CPI Slows To 5-Month Low Of 0.2% Y/Y

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

Karahan Presents CBRT Inflation Report, End-2024 Estimate Unchanged at 36%

TURKEY
  • Newly appointed Governor of the Central Bank of Turkey, Fatih Karahan, delivered the central bank’s first inflation report of the year – where the 2024 year-end inflation estimate was left unchanged at 36% (end-2025 and -2026 inflation expectations remain unchanged at 14% and 9%, respectively).
  • While some sell-side desks had noted that Karahan may lean more hawkish than his predecessor, the Governor today largely struck familiar notes to previous central bank communication, noting that monetary tightness may be boosted if inflation expectations worsen, and that tight policy will be maintained for as long as needed. USDTRY has not reacted to the report.
  • In response to a question from a reporter, Karahan said the central bank does not see the need for additional rate hikes “at the moment”, adding that the Bank is not planning to decrease required reserve ratios. Note that the RRR for FX-protected accounts was reduced from 30% to 25% at the end of January, while that for accounts with TRY-denominated deposits was increased from 4% to 8%.
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.