The Central Bank of the Republic of Turkey (CBRT) is expected to continue tightening at a slower pace, according to Morgan Stanley. CEEMEA Economist Hande Kucuk predicts that the policy rate will increase by 250 basis points in the next meeting. However, despite the lack of specific forward guidance from the CBRT, Morgan Stanley anticipates that the pace of tightening will slow down.
This is because the CBRT has expressed a preference for a moderate adjustment in growth and delays in monetary transmission. This means that the bank is likely to reduce the rate of tightening and evaluate the impact of cumulative steps on economic activity and inflation.
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