Singapore Raises 2026 GDP Growth Forecast as AI Demand Fuels Economy 
Oil Prices Rise as Hormuz Reopening Remains Uncertain 
RBA Signals More Rate Hikes Possible as Australia Battles Stubborn Inflation 
China Holds Loan Prime Rates Steady for 14th Month as Economic Recovery Remains Uneven 
RBI Holds Repo Rate at 5.25% as Inflation Risks and Global Uncertainty Persist 
Australia Inflation Cools as Core CPI Misses Forecasts, Easing RBA Rate Hike Pressure 
Yen Stabilizes After Intervention Slide as Australian Dollar Hits Eight-Week High 
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
BOJ Rate Decision in Focus as Sticky Inflation, Weak Yen Shape USD/JPY and Nikkei Outlook 
Gold Prices Rise as Fed Rate Hike Bets Ease 
UK Retail Sales Rise as World Cup and Heatwave Boost Food, Pubs and Clothing 
The central bank of Turkey is expected not to slash interest rates this year, although there is no aim to raise rates either. CBT will delay tightening policy and will attempt to calm things down by tweaking FX liquidity measures, which will likely not work.
Unless markets calm down soon, USD-TRY could continue to spike, and this will trigger another negative spiral between exchange rate and inflation. CBT is likely to be pushed into a corner by the widening interest rate differential. It is one of the only remaining central banks around EM which is viewed by market participants as unable to hike rates because of political pressure.
The lira weakened sharply last week, with USD-TRY surpassing 3.27 at one stage on Friday.
Meanwhile, at USD-TRY of 3.25, imported inflation pass-through will escalate to faster than 10 percent by next month (via a combination of year-on-year acceleration in commodity prices and change in the lira), Commerzbank reported.
