- CBRT’s smaller than expected hike accompanied by a hawkish message could be enough to support Lira – SocGen
Market news
22 June 2023
CBRT’s smaller than expected hike accompanied by a hawkish message could be enough to support Lira – SocGen
Economists at discus Turkish Lira (TRY) outlook ahead of the Central Bank of the Republic of Türkiye (CBRT) Interest Rate Decision.
650 bps hike expected today
We expect a 650 bps hike today, taking rates to 15%, followed by two 500 bps hikes in July and August to get to 25 bps.
A smaller hike accompanied by a hawkish message could be enough to support the Turkish Lira, despite consensus looking for a move to 20% today.
See – USD/TRY: Depreciation pressure on the Lira to return – Commerzbank
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