Turkey Will Make a Quick Comeback, According to JP Morgan

Turkey will make a quick comeback, according to JP Morgan. The bank predicted that Turkey would quickly return to the pre-pandemic period.

JP Morgan stated that Turkey, Singapore, India and Brazil are among the developing countries that will reach the level of mobility the fastest before the coronavirus epidemic. In the report published by the US bank JP Morgan, it was noted that the Philippines, Peru, South Africa, Thailand and Colombia are among the countries that will take the longest to return to the pre-epidemic period. In the evaluation made in the report, it was said that the vaccine thresholds required for return to normal vary from country to country, so the results should be evaluated according to the performance of the countries. In its report dated June 18, JP Morgan stated that the relatively hawkish attitude of the CBRT gave hope, and stated that the inflation, which was below the expectations in April and May, was temporary and that the main factors affecting inflation continued. In addition, the bank stated in the same report that they expect the first rate cut to take place in September with 100 basis points, said that an early easing could hurt policy credibility, which is currently weak.