Free Trial
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.
Turkey Central Bank
Executive Summary:
- CBRT to keep rates unchanged at 19.00%
- CPI outlook becoming more constructive against expectations after downside surprise at 16.6% in May
- Kavcioglu likely to retain prior "hawkish" guidance on above-inflation interest rates to offset increased pressure from Erdogan to ease policy and stabilise TRY
- Markets remain scepitcal of Kavcioglu's ability to fend off Erdogan for too much longer without risking replacement
Full Preview here:
The CBRT is broadly expected to leave its key rate unchanged at 19.00% this week, despite a surprising, but substantial, moderation in price pressures in May. Governor Kavcioglu will look to deliver a market stabiliser to offset dovish Erdogan comments alluding to premature rate cuts - reiterating the bank's commitment to above-inflation interest rates while cautiously accentuating a more constructive near-term inflation outlook.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok