Turkey: CBRT likely to keep rates on hold – TDS

In line with the almost unanimous consensus, analysts at TD Securities are expecting the CBRT to keep its benchmark rate, the 1-week repo rate, on hol  |  12/06/2019 10:02

In line with the almost unanimous consensus, analysts at TD Securities are expecting the CBRT to keep its benchmark rate, the 1-week repo rate, on hold at today's MPC meeting.

Key Quotes

“The MPC will be reasonably happy with developments on the inflation front since the last meeting in April. In May headline CPI inflation continued the downtrend, falling to 18.7% y/y from 19.5% in May, and core inflation fell to 15.8% y/y from 16.3%.”

“Furthermore, USDTRY is slightly lower and Brent crude is down about 16% in $ terms. Added to all this, the global environment has shifted in a distinctly more dovish direction. However, with political risks to the lira abounding right now (e.g. Istanbul election rerun and the S-400 issue), the CBRT will want to adopt a cautious stance and, in any event, will want to prepare the markets more for possible rate cuts. So the CBRT might want to test the waters today with a bit more dovish language, but that is as far as they will go.”

Share

Popular News

Show More Popular News

Market Insight's Views

Market Insight analyses will provide both fundamental and technical comprehensions on FX
and other asset classes for Market Insight viewers

RISK WARNING

The information provided herein is for general informational and educational purposes only. It is not intended and should not be construed to constitute advice.

If such information is acted upon by you then this should be solely at your discretion and GKFX will not be held accountable in any way.

  • ForexF
  • IndicesI
  • CommoditiesC
        Back

        Login to Market Insight Account

        Your Market Insight account gives you access to the tools that we offer our customers including our
        Technical Studies & Sentiment for your accounts.

        Forgot Password?

        Don't you have a Market Insight account? With a few easy steps you can easily register to Market Insight

        Create a Market Insight's Account

        Your Market Insight account gives you access to the tools that we offer our customers including our Technical Studies & Sentiment for your accounts.

        register_ty

        Thank you!

        Welcome to Market Insight family!

        You have succesfully completed the registration.
        We will send you an e-mail to give you some
        instructions and our Terms and Conditions!
        Our account representatives will be contacting you as
        soon as possible. If you have any further questions
        please do not hesitate to mail us via info@marketinsight.com