No further easing expected by the CBRT – TDS

FXStreet (Edinburgh) - The EM research team at TD Securities sees the Turkish central bank keeping its benchmark rates unchanged in its monetary policy meeting.

Key Quotes

“In Turkey, in line with the unanimous consensus, we expect the CBRT to keep all its rates on hold”.

“Recently the CBRT announced that the MPC meeting agenda will include measures to cut the FX depo lending rates and to hike the rate on Turkish lira reserve requirements, but neither of these measures is likely to provide much support to the battered lira”.

“However, the announcement also said that other measures may be considered, although the CBRT is very unlikely to go as far as hiking rates”.