Turkey: CBRT will almost certainly cut rates - TDS

Cristian Maggio, head of emerging markets strategy at TD Securities, suggests that in Turkey, the CBRT will almost certainly cut rates on 25 July.

Key Quotes

“We expect -350bps, with the repo and WACF falling by that amount.”

“We also expect the corridor to be adjusted symmetrically lower, with a slightly higher margin of flexibility around the level of the LLW rate. We also expect further quantitative easing through the loosening of RRRs and ROCs.”