CBRT seen ‘on hold’ this week – BBH

In opinion of analysts at BBH, the Turkish central bank (CBRT) is expected to keep its key rates unchanged at its meeting later in the week.

Key Quotes

“Central Bank of Turkey meets Thursday and is expected to keep rates steady”.

“Inflation has been falling but at 10.9% y/y in June, it remains too far above the 3-7% target range to start an easing cycle. We do not think last week’s cabinet shuffle will have any policy implications, since President Erdogan calls all the shots anyway”.