In its report regarding Turkey, Bank of America (BofA) stated that inflation will continue to decelerate, with year-end inflation expectations at 43.3 percent.

The American investment bank, Bank of America, shared a note on Turkey.

The forecast indicated that inflation will continue to slow down.

The bank also announced its year-end inflation expectation as 43.3 percent.

YEAR-END POLICY RATE EXPECTATION FOR 2025 AT 30 PERCENT

The report stated that the September inflation data did not alter the base scenarios and the first interest rate cut is expected in December, mentioning, “We believe the decision of the Central Bank of the Republic of Turkey will be data-dependent.

If we do not witness further upside surprises in inflation, we believe there could be a 200-250 basis points interest rate cut in December.

If the data disappoint, we may see the first interest rate cut in the first quarter of next year.”