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Published on Thursday, September 14, 2017 | Updated on Monday, October 2, 2017

The Central Bank of Turkey remains tight

The Central Bank maintained its interest rate corridor once again parallel to our call and market consensus. The Bank keeps its hawkish tone as it also finds the high levels of both the headline and core inflation alarming over pricing behavior. We expect the Bank not to find room for monetary easing until the end of 1Q18, when the headline will fall towards 8-8.5%.