The Central Bank of Turkey (CBT) surprised markets with a 150bp cut to the policy rate, lowering it to 38% as headline inflation for November came in better than expected, ING's FX analyst Frantisek Taborsky notes.
The median consensus on Bloomberg anticipates a 100bp rate cut by the Turkish central bank (CBT) today, to 39.50% repo rate. But there is a wide range of analyst forecasts – ranging from unchanged to 250bp rate cut.
Yesterday, Istanbul's 45th civil court ordered a suspension of opposition CHP’s extraordinary provincial congress in Istanbul, undermining the authority of the Supreme Election Council (YSK) which had previously green-lit the event after some deliberation (and with some conditions), Commerzbank's FX