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Stock Market May be in “Waiting Period” as Focus Turns to CBRT (2/2)

TURKEY
  • An “expert” interviewed by Ekonomi newspaper said that while the upcoming elections in March may not necessarily pose risks to the stock market itself, they will be held in a period when more information on the direction of the Turkish economy will be revealed: 2 additional months of inflation data will have been released, credit rating agencies will make decisions on Turkey and a decision will be made on whether to lift restrictions on offshore currency swap markets. As a result, both domestic and foreign investors may find themselves in a “waiting period” until then.
  • This week, the CBRT rate decision is the key event where the central bank are widely expected to end their tightening cycle with a 250bp rate hike to 45%. See our full preview of that decision here.

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