HSBC strategists said the Central Bank (TCMB) is likely to cut interest rates by 200 basis points by year-end, describing the easing cycle as having two stages.
Strategists Ali Çakıroğlu, Shubham Sharma and Tolga Ediz noted there was broad consensus expecting a 200-basis-point cut for the rest of the year. They predicted the first stage of the easing cycle would occur this year and the second stage next year.