Playing catch up

TURKEY - Report 16 Jul 2023 by Murat Ucer

Our politics author will write his update separately in the next 24-48 hours, because of a few emergencies he had to attend to; please accept our apologies.

We start this econ-only Weekly with a preview of this Thursday’s upcoming MPC/CBRT meeting, at which we think there is again a risk of under-delivery, i.e., a below consensus hike, which stood at 500 bps according to a poll we saw. But even if the CBRT were to hike by 500 bps, it does not change the fact that monetary policy is hugely behind the curve, and will always remain so, given the rapidly deteriorating inflation dynamics.

Now read on...

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