CBRT to adopt a prudent stance next week: UniCredit

Quotes from UniCredit Research:

-We expect the CBRT to adopt a prudent stance next week and cut the one-week repo rate by a moderate 50bp to 7.25%. While this would probably cause another episode of political backlash, it would help keep real interest rates marginally positive and facilitate renewed portfolio inflows into Turkey in the short-term. Ultimately, this should help curb TRY depreciation and allow the CBRT to avoid significantly depleting its already limited stock of net FX reserves.