Turkiye: Hiking Cycle Over, No Cuts Until H224
Country Risk / Thu 25 Jan, 2024
Key View
- At its January 25 policy meeting, the Turkish Central Bank (CBRT) hiked its main policy rate by 250bps to 45.00%, which the CBRT confirmed was sufficiently high given the present inflationary backdrop.
- We maintain our view that the CBRT has been hiking rates as much as possible before the domestic economy weakens excessively, and the