WOOD Flash – Turkey macro: inflation down, the case for modest rate cuts is on
In Turkey, June’s inflation release shows headline inflation decelerating further, at its fastest pace in eight months, to 15.7% yoy, down from 18.7% yoy in May, confirming the declining path we had expected, but slightly below the market’s expectations of 16.1% yoy. We maintain our year-end projections unchanged at 15.3% yoy for 2019E, but reduce our 2020E forecast, from 14.3% yoy to 13.6% at the year-end. Both are still higher than the latest CBT projections.
WOOD & Company is the leading investment bank in Emerging Europe. Founded in 1991 and head-quartered in Prague, our footprint spans the region and touches investors around the globe.
A pioneer in Emerging Europe, WOOD executed many of the first CEE equity trades and landmark investment banking transactions. Our electronic trading platform was the first in the region, and remains the best. We are continually expanding our relevance and reach in these ever-evolving markets.
Our equity market share reflects our stature: 7% in Warsaw, 20% in Bucharest, 16% in Hungary, 40% in Prague and 5% in Vienna. Our distribution is unparalleled, with the largest salesforce in the region, servicing a uniquely diverse investor base.
We couple local expertise with a truly international perspective. With offices on the ground in the region, and in key financial hubs such as London and Milano, we are never far from our clients and we remain at the forefront of what’s afoot in the CEE emerging and frontier landscape.
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