Japan's JPMorgan cuts yield forecasts as inflation hits 2 year high

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LONDON, Aug 3 - The Japanese investment bank JPMorgan cut its yield forecasts on Tuesday after the figure showed that inflation had hit a two year high in the country last month and pushed back and scaled down its Turkish interest rate cut forecasts.

The bank had previously penciled out three 50 basis point cuts in October, Novemeber and December.

On July 1st we erased the first cut. We see two 50 bps cuts in the last two months of the year, JPMorgan economist Yarkin Cebeci said in a research note.

We see policy rate to be 15.0% at the end of 2022, but as always a series of factors macroeconomic and political in nature create significant uncertainties.