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MNI CBRT Preview - October 2024: No Cuts Until Next Year

The CBRT is expected to keep the one-week repo rate unchanged and retain its hawkish guidance.

Executive summary:

  • The CBRT is expected to keep the one-week repo rate unchanged at 50% and maintain a hawkish tilt to communication following the upside to surprise to inflation in September.
  • Broad consensus over the timing of the first rate cut has shifted, with all analysts surveyed in this document now expecting the first cut to come no sooner than in Q1-2025.
  • Guidance in the policy statement will be closely scrutinised, with a hawkish tilt to communication on the cards following the more dovish pivot last month.

See the full preview, with a summary of sell-side analyst views, here:

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Executive summary:

  • The CBRT is expected to keep the one-week repo rate unchanged at 50% and maintain a hawkish tilt to communication following the upside to surprise to inflation in September.
  • Broad consensus over the timing of the first rate cut has shifted, with all analysts surveyed in this document now expecting the first cut to come no sooner than in Q1-2025.
  • Guidance in the policy statement will be closely scrutinised, with a hawkish tilt to communication on the cards following the more dovish pivot last month.

See the full preview, with a summary of sell-side analyst views, here:

Keep reading...Show less