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BGC Partners Strategy Update : "Comparison of Previous Rate Cut Cycles"
Central Bank of Turkey (CBT) cut its policy rate in July 25th meeting, starting yet another rate cut cycle. In order to assess potential market implications, we have looked at the previous two rate cut cycles over the past decade. The first one is in 2008 when the global financial crisis led to a collapse in global growth forcing all central banks to cut rates. CBT cut its lending rate by 11.25ppts to 9.0% in about thirteen months until Nov-09. The second one is in 2012, when CBT simply took advantage of global monetary stimulus and cut rates by about 6ppts to 4.5% in again roughly 13 months.
Provider
BGC Partners
BGC has been one of the major market players in Turkish OTC debt, FX and swaps markets since 1998.
We started offering corporate finance and investment banking services to our clients in 2013. We offer a complete range of financial services to help our clients achieve their goals. Our main areas of activity within investment banking are as follows:
- Mergers & Acquisitions
- Equity Capital Markets
- Debt Finance & Advisory
Cagdas Dogan
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