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Rabobank analysts are expecting Turkey’s central bank to keep its policy rate at 24% when the decision is announced at 11:00GMT.

Key Quotes

“The main focus will be on the official statement which must retain a sufficient dose of hawkishness underpinned by a firm commitment to maintain tight monetary policy “until the inflation outlook displays a significant improvement” to prevent USD/TRY from gaining even better upside traction in the coming days/weeks.”

“The National Bank of Poland will also announce its interest rate decision around midday (there is no specific time). The policy rate is set to remain at the record low of 1.50% with the main focus on press conference traditionally chaired by Governor Glapinski.”

“This will be the first opportunity for the Monetary Policy Council to express its view on substantial fiscal stimulus the governing Law & Justice party announced last month as somewhat blatant attempt to boosting its chances of winning European elections in May followed by national elections in autumn.”