Analysts at TD Securities note that the Bloomberg survey for today’s CBRT rate decision has forecasts ranging from 0 to +150bps for the hike in the benchmark one-week repo rate (currently 17.75%). Key Quotes “We are inclined to go with the median consensus and expect a 100bps hike. The case for a hike is straightforward. June CPI inflation leapt to 15.5% Y/Y, ahead of the consensus of 13.9% and up from the prior 12.15%.” “The main drivers of the jump higher in the headline rate were food and fuel prices, but, worryingly, core inflation also moved up sharply, to 14.6% Y/Y from 12.6%.” “Furthermore, since just before the last MPC meeting on 7 June, the lira has continued to weaken, by about 4% against the US dollar. If the CBRT does not hike rates, then the markets will take this as a clear sign of political interference and USDTRY will move sharply higher.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next WTI catches fresh bids, regains $ 68 ahead of API data FX Street 5 years Analysts at TD Securities note that the Bloomberg survey for today's CBRT rate decision has forecasts ranging from 0 to +150bps for the hike in the benchmark one-week repo rate (currently 17.75%). Key Quotes "We are inclined to go with the median consensus and expect a 100bps hike. The case for a hike is straightforward. June CPI inflation leapt to 15.5% Y/Y, ahead of the consensus of 13.9% and up from the prior 12.15%." "The main drivers of the jump higher in the headline rate were food and fuel prices, but, worryingly, core inflation also moved up sharply, to 14.6%… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
