Published on Thursday, April 25, 2019 | Updated on Thursday, April 25, 2019
Turkey | The CBRT softens its policy tone
Summary
The Central Bank (CBRT) maintained the monetary policy rate unchanged (one-week repo, 24%) in line with expectations. We expect annual inflation will stay close to 20% until June and near 15.5% at the end of the year. Hence, we think that the CBRT should wait until October when the recovery in inflation will become more obvious to initiate easing cycle in monetary policy.
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- Türkiye
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- Macroeconomic Analysis
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- Monetary policy
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Authors
AI
Adem Ileri
BBVA Research - Senior Economist
SK
Serkan Kocabas
�O
Álvaro Ortiz
BBVA Research - Head of Analysis with Big Data