BofA Merrill Lynch Maintains 'December' Rate Cut Forecast

During a live broadcast on CNBC-e, Zümrüt İmamoğlu, the Turkey Economist at BofA Merrill Lynch, answered questions from Berfu Güven and provided assessments on the October inflation data. BofA's expectation for the first interest rate cut is in December, and İmamoğlu stated that this expectation has not changed. He mentioned that they anticipate a monthly inflation rate of around 4% in January 2025, emphasizing that the first quarter of the year will see the highest inflation rate.