Global Macro Service > Research Briefings > Turkey

CBRT holds rates again but pause may not last long

Turkey’s central bank (CBRT) kept the policy rate unchanged at 19% today, in line with our baseline forecast. Upside risks to inflation and rising inflation expectations are limiting the scope for rate cuts. However, easing will likely come sooner than is warranted by the inflation picture - we continue to pencil in the first cut for Q3.

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