Easing pressure on Turkey’s balance of payments since the US-Iran ceasefire was announced earlier this month gave the central bank (CBRT) space to leave policy settings unchanged today (with the one-week repo rate at 37%), rather than tighten monetary conditions further. So long as energy prices evolve in line with our baseline scenario, we think interest rates will remain unchanged throughout Q2.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.
