The Turkish central bank’s much larger-than-expected 750bp interest rate hike, to 25.00%, at today’s meeting will go a long way towards reassuring investors that the shift back to policy orthodoxy is on track. The interest rate outlook is now even more uncertain but we think it is plausible that rates now rise far above 30% (our current year-end forecast) in the coming months.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.