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MNI CBRT Preview - March 2022: CBRT Unmoved at 14.00%, Despite Surging Inflation


The CBRT is broadly expected to keep rates on hold at 14.00% this week, retaining its commitment to keep rates low even in the face of spiralling inflation. Turkey’s acute supply-chain vulnerabilities to the Ukraine crisis continue to pose inflationary risks to pricing dynamics, which may be reflected in marginal phraseology changes in the statement. However, the CBRT remains resolute in its decision to favour FX interventions and tweaks to the FX-linked deposit scheme over rate hikes - resulting in unchanged policy settings in the near to medium-term.

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MNI London Bureau | +44 020-3983-7894 |
MNI London Bureau | +44 020-3983-7894 |

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