Free Trial

MNI CBRT Preview: CBRT to Hold at 19%, Rising CPI Tempers Dovish CBRT Reaction Function

TURKEY

14/07/21 - 1200BST/1300CEST/0700ET


The CBRT is broadly expected to keep its one-week repo rate unchanged at 19% this week with overshooting pressures in CPI limiting its ability to deliver lower rates without destabilising the lira - contrary to Erdogan's wishes. June's upside surprise at 17.53% precipitated not only a swathe of year-end inflation revisions, but also reduced/delayed 4Q21 cut cycle targets among sell-side institutions as analysts pared dovish bets on the CBRT.


Full Preview Here:

CBRT Preview 14.07.21.pdf

MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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.