Global Banks Eye October for Turkish Rate Cuts After Softer August Inflation
6 Articles
6 Articles
All eyes are on the Monetary Policy Committee (MPC) meeting of the Central Bank of the Republic of Turkey (TCMB) this week for its interest rate decision. Expectations regarding the interest rate decision, which the markets are eagerly awaiting, are becoming clearer. Here are the details... This week, the Turkish economy faces the most critical monetary policy of the year...
Markets are focused on the interest rate decision to be announced at the Monetary Policy Committee (MPC) meeting on September 10th. While expectations regarding the interest rate decision are eagerly awaited, the world-renowned data analytics firm S&P Global has released its forecast for the Central Bank of Turkey's (TCMB) decision. The firm expects the Central Bank to keep the policy interest rate at 37 percent.
The Monetary Policy Council (MPC) meeting begins today, during which a decision will be made on the future of interest rates. Due to rising inflation, analysts have ruled out a rate cut.
Foreign institutions' forecasts diverged ahead of the interest rate decision announced by the Central Bank of Turkey on September 10. While the three institutions expect interest rates to remain flat, a bank reckons the discount cycle could begin again in September.
S&P Global Market Intelligence expects the Central Bank of the Republic of Turkey (CBRT) to keep its policy interest rate unchanged at 37 percent at this week's Monetary Policy Committee meeting. The agency notes that rising energy prices are negatively impacting the inflation outlook, while finding the CBRT's year-end inflation forecast of 28 percent "overly optimistic."
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