JPMorgan and the traders estimate that due to the impact of the Iran situation, Turkey will temporarily suspend interest rate cuts.

Traders and some economists have expressed that due to the surge in energy prices caused by the Iran conflict, Turkey's anti-inflation process is threatened, and the country's central bank is expected to suspend rate cuts in March. Derivatives linked to interest rates saw the largest single-day increase in a year on Monday. This indicates that traders have already priced in that interest rates will remain high for a longer period before the central bank policy meeting on March 12. At the same time, economists from JPMorgan Chase and Deutsche Bank have also adjusted their expectations, now expecting the Turkish central bank to keep rates unchanged this month after five consecutive rate cuts.