Will Turkey Continue Its Easing Cycle?
The one-month forward implied yield on 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. JPMorgan Asset Management Market Strategist Michael Bell discusses with Bloomberg's Anna Edwards on "Countdown."
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