ISBANK executive expects another 100 point interest rate cut from CBRT in December

The Central Bank’s interest rate cut last week remains on the economy’s agenda. Hakan Decan, General Manager of ISBANK, has made predictions about interest rate cuts and inflation in a live broadcast he has attended.

The General Manager of ISBANK, made statements on BloombergHT television.

Aran said that he thought the Central Bank had brought forward its planned interest rate cut decision, and expected another 100 basis point discount.

He pointed out that the rise in the exchange rate supported the exporter and encouraged domestic production because it made imports more expensive. He also noted following; “I think that high exchange rate is a conscious choice in this context. The CBRT does not prefer lower a lower rate level. Therefore, certainly excluding the inflation effect of the exchange rate increase, I think it is used to stimulate production.”

Source: cumhuriyet.com.tr/galeri/is-bankasi-genel-mudurunden-faiz-tahmini-1872781?_n_pid=2573

(EDITOR’S NOTE: A further rate cut from CBRT could/would trigger additional/substantial increase in dollar / TL rate)