Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious Outperformance
Find Stocks Now

JPMorgan doubles Turkish rate hike forecasts for coming months

Published 09/07/2023, 09:24 AM
Updated 09/07/2023, 09:25 AM
© Reuters. FILE PHOTO: JPMorgan Chase Bank is seen in New York City, U.S., March 21, 2023. REUTERS/Caitlin Ochs/File Photo

LONDON (Reuters) - JPMorgan doubled its Turkish rate-hike forecasts for the coming months on Thursday, predicting that fiscal spending plans and higher inflation would see them go up by another 10 percentage points over the next two central bank meetings.

"We now expect rate hikes to be front-loaded: 500bp hike in September and 500bp in October MPC instead of 250bp previously, considering expected fiscal loosening and upside inflation surprisesl," the investment bank said in a note.

It added that there were also "upside risks" to its year-end policy rate forecast of 35% and its 2024 year-end forecast of 45%.

Latest comments

so basically dictating what the gov should do to be on the good side?
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.