Carla Slim, Economist at Standard Chartered, suggests that they see three reasons for the Central Bank of the Republic of Turkey (CBRT) to hike the key policy rate – the repo rate – again at the 24 July Monetary Policy Committee (MPC) meeting. Key Quotes “This would follow a 500bps total increase since the start of the year. We raise our 2018 year-end policy forecast to 19.75% (from 18.25%) to factor in a tighter CBRT stance.” “Inflation: The June CPI print highlighted most of Turkey’s traditional inflationary drivers, which pushed inflation higher to 15.4% y/y: food inflation rose to 19% from 11% in May and higher global oil prices pushed utility and transport prices higher to 12% and 24%, respectively.” “External sector: Turkey still faces external vulnerability pressures. The May current-account deficit rose to USD 5.9bn (up 9% y/y) and was financed largely by a reserve drawdown and by unidentified inflows (net errors and omission). Net inflows through the financial account were close to zero. The last credit rating downgrade by Fitch, with a negative outlook, will likely weigh further on investor sentiment.” “Investor concerns: While we think comments by Treasury and Finance Minister Berat Albayrak are encouraging, they will likely need to be complemented by CBRT actions to stem concerns relating to central bank independence.” 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 Gold and crude oil net length reduced – TDS FX Street 5 years Carla Slim, Economist at Standard Chartered, suggests that they see three reasons for the Central Bank of the Republic of Turkey (CBRT) to hike the key policy rate - the repo rate - again at the 24 July Monetary Policy Committee (MPC) meeting. Key Quotes "This would follow a 500bps total increase since the start of the year. We raise our 2018 year-end policy forecast to 19.75% (from 18.25%) to factor in a tighter CBRT stance." "Inflation: The June CPI print highlighted most of Turkey's traditional inflationary drivers, which pushed inflation higher to 15.4% y/y: food inflation rose to 19%… 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.
