Turkey’s central bank (CBRT) delivered a 250bp interest rate hike, to 42.50%, at today’s meeting and didn’t close the door on the tightening cycle. We’ve now pencilled in one more 250bp hike at the next meeting in January. More importantly, policymakers will need to keep interest rates high for an extended period if they want to bring inflation down to single digits.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.