WOOD Flash – Turkey macro: where we stand
The Central Bank of Turkey kept the policy rate on hold at the October meeting and maintained a hawkish tone in the press statement, released yesterday (25 October), in line with our expectations. We expect the CBT to aim to reduce interest rates next year, as inflation is likely to show tentative signs of having reached a peak by early next year. On a positive note, the survey data for October show a continuing downturn, but with some improvements relative to September on order expectations, pricing and employment. We maintain the view that the risks to the currency are biased to the weak side, with a 12M horizon.
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.
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