Turkey: CBRT to cut today? – TDS
Analysts at TD Securities think that the CBRT will cut the 1-week repo rate and WACF by 150bps, which is 75bps more than the current Bloomberg survey consensus.
“If the CBRT cuts nearly as aggressive as we think (at least 100bps), USDTRY may move ca. +0.3% higher shortly after the announcement. Smaller cuts would reduce the negative impact on TRY. A hold or modest rate cuts of 25bps could result in 0.2-0.4% USDTRY appreciation.”