TÜRKIYE
Having signaled the end of its aggressive hiking cycle (up 3,650 bps since June), the CBRT maintained rates unchanged at a (2-decade) high of 45.0% at its February meeting, while hanging on to hawkish bias
The first policy rate cut is expected in late-2024, when inflation is projected to return to a sustained downtrend
Against the backdrop of tightened financing conditions, GDP growth is set to moderate to 3.0% in FY:24 on weaker private consumption
CYPRUS
Following another year of robust performance, tourism activity nearly returned to its pre-pandemic level in FY:23
Nonetheless, subdued economic growth in the EU and a highly uncertain regional geopolitical backdrop are due to weigh on tourist inflows this year
APPENDIX:
DETAILED MACROECONOMIC DATA
REGIONAL SNAPSHOT:
MACROECONOMIC INDICATORS
FINANCIAL MARKETS
Countries in Focus in this Issue: Türkiye & Cyprus
Αναδυόμενες Αγορές Νοτιοανατολικής Ευρώπης & Μεσογείου: Δισεβδομαδιαία Επισκόπηση 6 - 19 Φεβρουαρίου 2024