Goldman: There are positive expectations about the Turkish lira and reserves

In the latest report prepared by Goldman Sachs economists Clemens Graffe and Başak Edizgil, it was underlined that the CBRT emphasized that the real appreciation in TL is the main factor for disinflation.

The report included positive expectations regarding the Turkish lira and reserves.

Goldman Sachs economists predicted a depreciation in the TL due to foreign portfolio inflows and a narrowing current account deficit. Goldman Sachs economists stated that the CBRT’s net reserves, excluding swaps, which are negative, may turn positive in 2024.

Economists maintained their previously expressed forecast of relaxation. Accordingly, the bank estimates that relaxation in Turkiye will begin in the third quarter of the year.

The bank is focusing more on excess liquidity and rising credit cards, according to Goldman Sachs economists. “We continue to expect the CBRT to take new measures to prevent the recent increase in credit card expenditures,” the report said.

Source: / Prepared by Irem Yildiz

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