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TURKEY: Turkey Seen Likely to Start Discussing Rate Cuts in November - BBG

TURKEY
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Turkey’s central bank will probably discuss interest-rate cuts at its November meeting, but there is no pre-determined path for monetary policy and the decision will be driven by economic data between now and then, Bloomberg report citing a person with direct knowledge of the matter. The bank will focus primarily on inflation, which authorities predict will gradually slow to 38% by the end of this year, compared with 52% in August, according to the person.

  • As a reminder, the central bank made a dovish tweak to its policy statement at this week's meeting, removing explicit reference to the potential for further rate hikes. Following Thursday's decision, there was no clear consensus among sell-side over when the first rate cut would be delivered. Our full review can be found here.
  • Central bank Governor Fatih Karahan is scheduled to give fresh inflation projections on November 8 when the bank releases its final inflation report for the year. He will also address Turkish lawmakers on October 3 to discuss price increases and monetary policy, according to Anadolu Agency. The CBRT meet next on October 17. The following meeting is scheduled for November 21.
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Turkey’s central bank will probably discuss interest-rate cuts at its November meeting, but there is no pre-determined path for monetary policy and the decision will be driven by economic data between now and then, Bloomberg report citing a person with direct knowledge of the matter. The bank will focus primarily on inflation, which authorities predict will gradually slow to 38% by the end of this year, compared with 52% in August, according to the person.

  • As a reminder, the central bank made a dovish tweak to its policy statement at this week's meeting, removing explicit reference to the potential for further rate hikes. Following Thursday's decision, there was no clear consensus among sell-side over when the first rate cut would be delivered. Our full review can be found here.
  • Central bank Governor Fatih Karahan is scheduled to give fresh inflation projections on November 8 when the bank releases its final inflation report for the year. He will also address Turkish lawmakers on October 3 to discuss price increases and monetary policy, according to Anadolu Agency. The CBRT meet next on October 17. The following meeting is scheduled for November 21.