Turkey's Garanti CEO sees policy rate hike

Turkish lender Garanti Bank's chief executive said on Tuesday there are signs the central bank may be preparing to hike its policy rate and predicted that Turkey will see a period of rising interest rates.

Speaking in an interview with broadcaster BloombergHT, Ali Fuat Erbil said a 10 percent depreciation in the Turkish lira would cut banks' capital adequacy ratios by about 50 basis points.

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