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TURKEY: MNI CBRT Preview: December 2024

TURKEY
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  • The CBRT started its easing cycle with a 250bp cut to the one-week repo rate, taking it to 47.5%.
  • In the accompanying policy statement, the central bank transitioned to data dependent guidance, noting that decisions will be made “prudently on a meeting-by-meeting basis” with a particular focus on the inflation outlook.
  • The Bank also narrowed the interest rate corridor to +/-150bps around the policy rate, down from the +/-300bps set in March.

See the full review, with a summary of sell-side analyst views, here.

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  • The CBRT started its easing cycle with a 250bp cut to the one-week repo rate, taking it to 47.5%.
  • In the accompanying policy statement, the central bank transitioned to data dependent guidance, noting that decisions will be made “prudently on a meeting-by-meeting basis” with a particular focus on the inflation outlook.
  • The Bank also narrowed the interest rate corridor to +/-150bps around the policy rate, down from the +/-300bps set in March.

See the full review, with a summary of sell-side analyst views, here.