MARKET OUTLOOK - Focus on the Tone of the CBRT Statement and Guidance for Interest Rate Cuts

The Turkish lira is declining as investors take a cautious stance ahead of the Central Bank of Turkey's recent policy decision. ING analyst Frantisek Taborsky indicated that the Central Bank is expected to keep interest rates unchanged at 50% during the decision to be made at 1400 GMT. "The main focus will be on the tone of the central bankers and forward guidance for the first interest rate cut," Taborsky stated, recalling that the Central Bank indicated a slowdown in the main trend of inflation in its recent inflation assessment last month. He mentioned that the Central Bank may wait for more inflation data before considering an interest rate cut; however, he notes that the likelihood of such a move has increased for December.