JPMorgan raises inflation and interest rate forecasts for Türkiye
Citing rising oil prices following US and Israeli attacks on Iran, JPMorgan has revised its year-end inflation and interest rate forecasts for Türkiye upwards.
Global investment bank JPMorgan has raised its year-end inflation forecast for Türkiye, drawing attention to rising oil prices due to the US and Israeli attacks on Iran.
According to a report by CNBC-e, the bank increased its year-end inflation expectation from 24 per cent to 25 per cent. According to the latest data from the Turkish Statistical Institute (TÜİK), inflation stands at 30.65 per cent.
The bank also raised its year-end interest rate forecast from 30 per cent to 31 per cent. The policy rate is currently at 37 per cent. Furthermore, JPMorgan expects the Central Bank to pause and not implement an interest rate cut in March.
Oil prices on the rise
Following the attacks, eyes turned to the Strait of Hormuz, a critical transit route for oil and natural gas trade. Driven by the impact of the war, Brent crude oil has risen and surpassed 77 dollars at present.
