Market News
ISTANBUL, Oct 23 - Turkey's central bank is expected to deliver another hefty rate hike of 500 basis points this week, a Reuters poll of economists showed on Monday, as it continues to tighten policy against rising inflation.
"The central bank's focus has remained on anchoring inflation expectations and achieving disinflation ... would lead to a positive ex-ante real policy rate based on the 33% inflation forecast for 2024 in the medium-term plan," ING wrote in a research note. Further depreciation in the Turkish lira and increases in taxes and fees have fanned inflation, eating into Turks' savings despite tighter monetary policy.
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