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Deutsche Expects Interest Rate Change From CBRT

Deutsche expects interest rate change from CBRT. Wietoska stated that they expect a year-end inflation of close to 15 percent.

Deutsche Expects Interest Rate Change From CBRT
Yazar: Eylem Özer

Yayınlanma: 29 Nisan 2021 20:42

Güncellenme: 6 Kasım 2024 13:32

Deutsche Expects Interest Rate Change From CBRT

Deutsche expects interest rate change from CBRT. Deutsche Bank anticipates an interest rate cut.

Deutsche Bank Middle East and Eastern Europe Research Manager Christian Wietoska stated that they expect the Central Bank of the Republic of Turkey (CBRT) to cut interest rates as of July and revise their growth forecast for the year-end downward. Speaking to Bloomberg HT on the issue, Wietoska stated that they expect a year-end inflation of close to 15 percent, said, “Inflation will continue to increase in the short term, base effects and currency shock will also have a part in the increase. We do not think there will be a peak and we expect the increase in inflation to continue.” Emphasizing that there is still a lot of uncertainty and external conditions remain tough, Wietoska noted that high volatility in TL will affect inflation in the short term. Wietoska said, "I think real interest rates should be above 1 percent when there is so much global uncertainty." He said that they expect inflation to decline after June and that they think that the CBRT will start monetary easing after inflation reaches its peak. In addition, Wietoska underlined that they expect the policy rate to be around 15-16 percent at the end of the year. Making the assessment that uncertainties regarding national quarantine, financial conditions and tourism will suppress growth, Wietoska said, "We expected the growth to be 5 percent first, and now we expect it to be 4.5 percent with a downward revision. In Turkish Lira, we expect gradually further losses in value. "     Source: Bloomberg HT
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