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MNI CBRT Preview - POV: CBRT to Hold at 19%, Peak or No Peak?

The CBRT is broadly expected to keep its key rate unchanged at 19% this week in a bid to maintain TRY stability amid concerns of a premature easing cycle and an acute credibility deficit, which may be amplifying upside price pressures.

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06/05/21 - 1200BST/1300CEST/0700ET

The CBRT is broadly expected to keep its key rate unchanged at 19% this week in a bid to maintain TRY stability amid concerns of a premature easing cycle and an acute credibility deficit, which may be amplifying upside price pressures. Softer-than-expected inflation in April has thrown the cat among the pigeons as CBRT projections for a cyclical peak in CPI may hold more weight than anticipated by sell-side institutions - boosting risks of an expedited CBRT easing cycle.

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CBRT Preview 06 May 21 .pdf