J.P. Morgan Predicts Turkey Rate Cut
J.P. Morgan Bank expects the Central Bank of Turkey to cut interest rates by 100 basis points in its upcoming meetings in October and December, bringing the rate down to 35% by the end of the year. This expectation comes amid a decline in core inflation despite rising energy prices. The bank also anticipates the annual inflation rate to fall to 30.2% by year's end, even though consumer prices increased by 2.2% month-over-month due to higher fuel costs and seasonal back-to-school changes. The report forecasts a 6% monthly increase in energy prices in September, with expectations of ending diesel subsidies and the gradual pricing mechanism for gasoline. Despite this, Turkish interest rates remain among the highest globally, even amid pressure on financial markets caused by manipulation in some investment funds.
Notice: This Is an AI-Generated Summary
Comments (0)