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Turkish central bank rate decision due at 1200BST/0700ET

TURKEY

Consensus is for unchanged rates at 8.25% for the benchmark, but there are some outside bets for hikes of as much as 150bps by some.

Other options available to CBRT today include tweaks to the rate corridor via a hike to the late liquidity rate (currently 11.25%), although BBG cited a source in a recent report saying CBRT are "unlikely to make changes to the current structure of the corridor".

Decision comes in context of further falls in TRY to alltime lows vs. USD & EUR despite stealth tightening in recent weeks via the suspension of 1w repo ops.

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