Turkey’s Basci Hints at More Rate Cuts as Bonds Climb
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Turkey’s central bank signaled that rate cuts will continue as it maintained its year-end inflation forecast. Bonds rose for a fourth day.
The market is pricing in a cut of 50 basis points, or 0.5 percentage point, in the benchmark one-week repo rate over the next three months, Governor Erdem Basci said at a press conference in Ankara today. Cuts of between 25 basis points and 75 basis points would be “measured” ones, he said.