Goldman Sachs announces its forecast for the CBRT's interest rate decision
Goldman Sachs predicts that the Central Bank of the Republic of Turkey will cut its policy rate by 350 basis points to 42.50 percent at its meeting on July 24.
US-based investment bank Goldman Sachs expects the Central Bank of the Republic of Turkey (CBRT) to cut interest rates at its upcoming Monetary Policy Committee meeting.
The bank's economists project that the CBRT could reduce the policy rate by 350 basis points to 42.50 percent.
Economists stated that recent policy changes and political developments pose a risk toward a smaller cut in interest rate forecasts.
In particular, the increase in withholding tax applied to Turkish Lira deposits and ongoing political uncertainties are cited as the primary reasons for these risks.
Despite this, the Goldman Sachs team noted that current economic conditions do not require a significant slowdown in the pace of monetary easing. It was emphasized that factors such as the disinflation process, the recovery of reserves, and limited dollarization support the bank's core economic expectations.
News Source: 12punto
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