The one-month forward implied yield on the the Turkish lira, a gauge of borrowing-cost expectations, is trading below the overnight lending rate. That’s a sign investors expect policy makers meeting on Tuesday will continue an easing cycle that started in March. The median of 21 estimates in a Bloomberg survey shows they will probably cut the rate by 25 basis points to 8.5 percent, extending the decrease this year to 225 basis points.

Watch Next: Will Turkey Continue Its Easing Cycle?

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