Rate and Interest Assessment From BBVA: Two Reasons for the Discount - Sözcü Gazetesi
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4 Articles
BBVA noted that the TCMB could allow faster nominal depreciation in the Turkish lira. The Bank noted that interest rate cut expectations strengthened at the October 22 meeting, with September inflation falling below 30 percent and turmoil in the fund sector.
Economists participating in AA Finance's expectations survey expect the Central Bank to cut interest rates by 100 basis points in October. Their year-end interest rate forecast is 35 percent.
Spanish banking giant BBVA stated that the Central Bank could accelerate the rate of increase in foreign exchange rates by allowing the Turkish Lira to depreciate more rapidly in order to prevent a possible sudden exchange rate shock.
Spanish bank BBVA predicted that the Central Bank of the Republic of Turkey (TCMB) might allow a faster nominal depreciation of the Turkish lira. Noting that turmoil in the funds market has weakened confidence and tightened liquidity conditions for some companies, the bank pointed out that expectations of an interest rate cut have strengthened ahead of the Monetary Policy Committee meeting on October 22nd.
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