MUFG shifts the initial forecast of Turkey’s monetary policy easing from Q2 to Q3 Author Reuters

© Reuters.

LONDON, May 10 (Reuters) – Japanese banking and financial services group Mitsubishi UFJ Financial Group (MUFG) has postponed the initial forecast of Turkey’s monetary policy easing from the second quarter to the third quarter.

In the statement made by the MUFG, it was stated that the possibility of a rate cut in June was negligible, but the view that the bank would adopt a looser attitude after the appointment of Şahap Kavcıoğlu as the head of the Central Bank (CBRT) in March was maintained.

At the second Monetary Policy Committee (MPC) meeting chaired by the CBRT Şahap Kavcıoğlu, while keeping the policy rate constant at 19%, it stated that the current stance in monetary policy will be maintained until a significant decrease in inflation is achieved.

By: Tom Arnold
Translated by: Halilcan Soran
Editorial: Ebru Tuncay

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