This week sees Turkey rate decision, with....>

TURKEY: This week sees Turkey rate decision, with Bloomberg median going for a

50bps CUT to 10.75%.Spilt goes as follow, out of 24 calls. -8 are going for

unchanged (including MS), following the higher CPI. 

-1 (GS) is going for 25bps CUT to 11% 

-13 are going for 50bps JPM, TD, HSBC, Unicred, DB, etc...) 

-2 are going for 75bps cut (includes DekaBank).

Spectrum of the arguments varies: 

-From the pick up in inflation, as such going for unchanged or a smaller cut.

Adopting a wait and see approach going into the 2nd quarter., Especially given

residual risk to the TRY on the back of the S400 defence system, as well as

Syria. 

-To the majority, that sees a 50bps cut and limited impact in the local

currency, as well as inflation potentially peaking.