MPC Preview: Simplification to Start

TURKEY - Report 21 Dec 2015 by Murat Ucer
The Monetary Policy Committee will hold its regular monthly meeting tomorrow to decide on the short-term interest rates. In line with the messages delivered earlier by the CBRT, the market expects – generally speaking – a hike of the weekly repo rate and the O/N borrowing rate, currently at 7.5% and 7.25%, respectively, by about 50 bps each (Reuters). A number of participants (3) expect a more aggressive hike, while some (2) expect no change in the weekly rate (Graph 1). Typically, those that expect a hike in the weekly rate also expect a more or less similar move in the O/N borrowing rate ...

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