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Flash Report / Turkey

Turkey: Sharp policy shift solidified by 200bps rate cut

After last month’s surprise rate cut and last week’s sacking of three MPC members, the CBRT has doubled down on its accommodative shift with a 200bps rate cut today. This compares to the Bloomberg consensus of 100bps, with many forecasters projecting...
Tellimer Research Patrick
Patrick Curran @ Tellimer Research 21 October 2021
Turkey: Sharp policy shift solidified by 200bps rate cut
Turkey: Sharp policy shift solidified by 200bps rate cut

Turkey: It is MPC day

It is MPC day and all else is irrelevant. Lira strengthened a bit yesterday, creating market rumors of a no “change” in rates, but it was mostly caused by the move in DXY in our view. A no change would be a positive for the Lira and it could quickly ...
ATA Invest Batuhan
Batuhan Ozsahin @ ATA Invest 21 October 2021

Turkey: Turkey backslides in democracy, judiciary, rights and freedoms – EC 2021 report

Structural deficiencies of presidential system persist with regards to democracy. Deterioration in freedom of expression, crackdown on opposition continue. Turkey seen well advanced in economic criteria notwithstanding concerns on its functioning. EC...
EmergingMarketWatch Research
Research Team @ EmergingMarketWatch 20 October 2021

Turkey 3Q21 earnings estimates: Attractive valuations for selected blue chips

ATA Invest Zeynep
Zeynep Erman @ ATA Invest 20 October 2021

Turkey: Market will be focused on MPC tomorrow

Turkish equities performed strongly led by banks. Despite expectations of a strong 3Q, recent Lira weakness and 250 bps rise in interest rates is not only hitting CAR (50-70bps combined impact for the private banks under our coverage) creating future...
ATA Invest Batuhan
Batuhan Ozsahin @ ATA Invest 20 October 2021

Turkey: Lira volatility is at its highest

Lira volatility is at its highest since March and it touched its lowest level (9.375) against USD and this is affecting the portfolio shifts at Turkish equities, out from banks into industrials. Food retailers would normally be a choice of rotation b...
ATA Invest Batuhan
Batuhan Ozsahin @ ATA Invest 19 October 2021