JPMorgan Expects Turkey to Hike Interest Rates to 40 Percent
JPMorgan analysts expect the Turkish central bank to raise its one-week repo rate from 37 percent to 40 percent during the June 11 meeting or potentially sooner. The investment bank cited rising political risks and market turbulence as the primary drivers for this anticipated monetary policy shift.
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JPMorgan Chase & Co expects Turkey to raise its one-week repo rate 300 basis points to 40% by June 11. The forecast follows politically-driven market turbulence that pressured the lira. The central bank is likely to move to counter currency instability.
