JPMorgan expects the Central Bank (TCMB) to cut the policy rate by 100 basis points at each of its October and December meetings, bringing it to 35 percent by year-end.
The bank forecasts the rate will decline to 36 percent at the October 22 meeting. Forecasting monthly inflation of 2.2 percent for September, JPMorgan expects annual inflation to fall to 30.2 percent and to 29.5 percent by year-end.