Inflation figures announced: Striking forecast regarding interest rates
While ING estimates that inflation will be at the 31 percent level by the end of the year, it stated that November data could lead the CBRT to a 100 basis point interest rate cut at its December meeting.
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ING Global announced that Turkey is continuing its policy of fighting inflation and that it expects inflation to be around 31 percent by the end of the year.
The bank anticipates that the Central Bank of the Republic of Turkey (CBRT) will implement a cautious interest rate cut at its meeting to be held in December.
The report stated that November inflation data could encourage the Central Bank to continue easing its monetary policy.
Furthermore, it was pointed out that recent growth figures and leading indicators pose upward risks to inflation. "Under these conditions, we expect the CBRT to make a measured 100 basis point interest rate cut at its December meeting. However, we do not rule out the possibility of a larger interest rate cut," the report noted.