Macro and Politics
Tacirler Investment
* The CBT will release the results of the July Market Participants’ Expectations Survey today @ 10:00 local time. According to the results of the June Survey, the year-end inflation expectation, which had previously edged up from 30% to 30.35% in May, declined to 29.86% in the June survey, marking the first downward revision since March. In addition, the 12-month-ahead CPI forecast dropped from 25.06% to 24.56%, while the 24-month-ahead expectation decreased from 17.77% to 17.35%. Today’s survey results will be closely monitored for the participants’ expectations regarding the MPC meeting scheduled for this Thursday, as well as for their projections on July inflation. We expect the MPC to cut the policy rate by 250bps at this week’s meeting. We also anticipate a notable increase in July inflation, with the monthly reading is likely to come in around 2.4%.