CBRT seen ‘on hold’ tomorrow – BBH

In opinion of analysts at BBH, the Turkish central bank could refrain from acting on its benchmark rate at tomorrow’s meeting.

Key Quotes

“Central Bank of Turkey meets Tuesday and is expected to keep the benchmark rate steady at 7.5%”.

“However, it is expected to deliver another 50 bp cut to the overnight lending rate from 9% currently”.

“Inflation moved back above the 3-7% target range in June, and so the bank will have to play it cautiously, especially in light of the current political uncertainty”.