According to the latest Reuters poll of economists showed that a majority of them see the Central Bank of Turkey (CBRT) making a big cut to its key interest rate this Thursday, July 25th.
Key Findings:
“The Turkish central bank is expected to cut its key interest rate by 250 bps from its current 24% on July 25
The median forecast compiled from 23 institutions showed economists expected a 250-basis point rate cut in the policy rate at this month’s meeting, with forecasts ranging between cuts of 100 bps and 500 bps in the one-week repo rate.
A previous Reuters poll last week had already showed that economists expected deeper rate cuts this year after Cetinkaya’s dismissal. The median forecast then was for a 200-bps cut on July 25.
The median estimate in the Reuters poll for the central bank’s year-end policy rate was 18%, down from a forecast of 20% in last week’s poll. The latest forecasts ranged between 15% and 20%.”
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