Although I claimed it would be unwise to do so at the end of my latest Roubini Global Economics contribution (updated version of this week's Hurriyet column,
although the updating only changes one word, 'credible' to 'wise' in
the last sentence, as the weekend presentation has made it credible all
right), it looks likely that the CBT will be cutting the policy rate
tomorrow: Vice Governor Erdem Basci, noted as the most likely successor
to Governor Yilmaz in a U.S. Istanbul Consulate WikiLeaked cable, in an emergency presentation at the Turkish Economic Association, clearly spelled out that a policy rate cut would be on the agenda at tomorrow's MPC meeting.
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