Morgan Stanley has recently joined other financial institutions in predicting that the Central Bank of the Republic of Turkey (CBRT) will continue to tighten at a slower pace. According to Hande Kucuk, CEEMEA Economist at Morgan Stanley, the company estimates that the policy rate will increase by 250 basis points in the next meeting. Despite the lack of specific forward guidance from the CBRT, Morgan Stanley anticipates that the pace of tightening will slow down.
The note also mentions that the CBRT’s preference for a moderate adjustment in growth and delays in monetary transmission may lead to the bank reducing the rate of tightening and evaluating the impact of cumulative steps on economic activity and inflation.
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