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The tightening of the monetary and exchange policy of the president of the Central Bank of the Republic of Turkey, Naci Ağbal, after the message given in the presentation of the text, continues with the expectations of interest rates for the arrival of foreign institutions in December.
Citi predicted at the Monetary Policy Committee meeting on December 24 that the policy rate would rise 200 basis points to 17 percent. In the report from the Citi CEEMEA region economists, including İlker Domaç and Gültekin Işıklar, it was stated that the latest developments increased the possibility of further adjustments in the last meeting of the year.
The report noted that the interest rate hike in November, the simplification of monetary policy, and the statements by CBRT Governor Ağbal show that there is significant acceptance regarding the need to combat inflation, increase international reserves and accelerate reverse dollarization.
In the report, it was noted that more limited movement was possible at the December CBRT meeting, while 200 basis points below It was stated that a remaining movement may be insufficient to achieve the reasonable and risk-free return on the Turkish lira assets.
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