Global giant banks' report on the Turkish economy and interest rate decision
International financial institutions shared their expectations for the last quarter of the year following the CBRT's decision to keep the interest rate steady at 37 percent.
Following the Central Bank of the Republic of Turkey's decision to leave the policy rate constant at 37 percent, global financial institutions such as Bank of America, Deutsche Bank, Barclays, and ING published evaluation reports regarding the Turkish economy.
Bank of America's October Expectation
Bank of America economist Hande Küçük expects the Central Bank of the Republic of Turkey to make an interest rate cut at the October meeting and then keep it steady for a long time.
Küçük stated that a meaningful rate cut cycle looks difficult due to high oil prices, geopolitical risks, and high inflation expectations.
Deutsche Bank's Assessments
Deutsche Bank analyst Yiğit Onay pointed out that the CBRT left interest rates unchanged in line with expectations.
It was stated that the decision reduced the need for urgent monitoring against external risks following the easing provided by the funding moves in August.
Barclays' Year-End Forecasts
Barclays emphasized that the CBRT maintains its prudent stance while expecting 100 basis point cuts in the last two meetings of the year.
In the report prepared by Senior Economist Ercan Ergüzel, it was projected that the policy rate could be pulled down to 35 percent by the end of the year.
ING's Growth Expectations
According to the report published by ING Economic and Financial Analysis, growth forecasts for the Turkish economy were shared.
It is projected that real GDP growth on an annual basis will be 3.2 percent in the third quarter of 2026 and 3.6 percent in the fourth quarter.