JPMorgan notes “Rate hike more likely than rate cut”


JPMorgan shared a note on the appointment of Fatih Karahan as CBRT Governor instead of Gaye Erkan, saying, “A rate hike is more likely than a rate cut.”

JPMorgan, the largest bank in the US, published a remarkable assessment note on the resignation of Hafize Gaye Erkan at the Central Bank (CBRT) and the appointment of Fatih Karahan in her place.

“We view the change of governor at the CBRT as positive for disinflation and the TRY, given that the Monetary Policy Committee is now likely to be more hawkish,” the note said.

Fatih Akçelik, one of the Bank’s economists, said, “We expect interest rates to remain high for longer as monetary policy is likely to be more sensitive to the inflation outlook in the coming period.”

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