🔴 JPMorgan Postpones TCMB Interest Rate Cut to January 2025

World-renowned investment bank JPMorgan has updated its expectations regarding the eagerly awaited interest rate cut by the Central Bank of the Republic of Turkey (TCMB). Following the September inflation data exceeding market expectations, JPMorgan analysts announced that they have postponed their expectation for the first interest rate cut from November 2024 to January 2025.

This decision was taken in line with the ongoing inflationary pressures in Turkey and the TCMB's policy of ensuring price stability. According to the statement, the size of the interest rate cut is anticipated as 250 basis points. This postponement is associated with the expectation in financial circles that inflation will enter a significant and permanent downward trend.

As stated in previous statements by Central Bank Governor Fatih Karahan, the tight stance in monetary policy will be maintained resolutely until price stability is achieved. In this context, it is emphasized that interest rate cuts will not be initiated until a significant decrease is observed in the main trend of monthly inflation.