Turkish Lira: Rate cuts raise depreciation risks
Commerzbank’s Tatha Ghose expects the Central Bank of the Republic of Türkiye (CBRT) to cut rates again after a seemingly benign inflation print, arguing that disinflation is not genuine and regional trends are pro-inflationary. With the Turkish Lira (TRY) still overvalued in real terms and nominal depreciation lagging inflation, Ghose warns that further easing raises risks and forecasts USD/TRY…










