Morgan Stanley recently predicted that the Central Bank of the Republic of Turkey (CBRT) will continue to tighten at a slower pace. According to Handa Kucuk, CEEMEA economist at Morgan Stanley, the company estimates that the interest rate will increase by 250 basis points at the next meeting. Despite a lack of concrete CBRT guidance, Morgan Stanley believes that the pace of tightening will slow down.
The note also mentions that the CBRT prefers a moderate adjustment to growth and monetary transmission lags, which suggests 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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