Flash Report /
Turkey

Turkey central bank opts to wait and see

  • The CBRT today held its one-week repo rate at 17%, following 675bps of hikes since November when governor was replaced

  • Inflation and credit growth still high but nearing peak, and TRY stability will reduce pressure on inflation

  • Trade deficit elevated and reserves continue to drop despite improved management. Retain Buy on Turkish T-bills

Turkey central bank opts to wait and see
Patrick Curran
Tellimer Research
21 January 2021
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