Sticking With Stocks And HUF/TRY

Turkish consumer price inflation eased to 10.26% y-o-y in August from 11.69% in July. This came on the back of a seasonal decline in food prices, as well as lower gold and oil import costs. We think that there is potential for both commodities to head lower still. Also, in all likelihood the Central Bank of the Republic of Turkey (CBRT) will hike the lending rate from 22.50% over the remainder of H206: another cumulative 100bps of interest rate increases could be in the offing. This will not only cool the economy slightly, but reinforce the attraction of holding the

To read the full article, please choose one of the following options: