Another 250 bps cut, more in store

TURKEY - Report 06 Mar 2025 by Murat Ucer

The MPC/CBRT reduced the policy rate (one-week repo) by another 250 bps today, in line with expectations, including ours, to 42.5%.

In terms of the content of the statement (link here), there was not a whole lot new. The statement began by noting that “the underlying trend of inflation decreased in February” after the increase in January, “domestic demand was above projections in the fourth quarter” but that “it remained at disinflationary levels”, and continued to be so in the first quarter of this year.

Now read on...

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