Turkey’s central bank seen making deeper rate cut on July 25 - Reuters poll

Dhwani Mehta FXStreet

According to the latest Reuters poll of economists showed that a majority of them see the Central Bank of Turkey (CBRT) making a big cut to its key interest rate this Thursday, July 25^th.

Key Findings:

“The Turkish central bank is expected to cut its key interest rate by 250 bps from its current 24% on July 25

The median forecast compiled from 23 institutions showed economists expected a 250-basis point rate cut in the policy rate at this month's meeting, with forecasts ranging between cuts of 100 bps and 500 bps in the one-week repo rate.

A previous Reuters poll last week had already showed that economists expected deeper rate cuts this year after Cetinkaya's dismissal. The median forecast then was for a 200-bps cut on July 25.

The median estimate in the Reuters poll for the central bank's year-end policy rate was 18%, down from a forecast of 20% in last week's poll. The latest forecasts ranged between 15% and 20%.”

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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