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A team of emerging-market strategists at Uni Credit Spa, a large Italian lender, said the central bank would need to raise interest rates by more than 3 percentage points to spur what it believes would be a one-to-three month rally in the lira.

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Turkey’s central bank is widely expected to raise interest rates at its Tuesday meeting.

However, few expect it to provide much support for the country’s battered currency, the lira.

Meanwhile, the overnight-lending rate would rise to 11.5% from 8.5%, and the overnight-borrowing rate would rise to 10.25%, from 7.25%.

Uni Credit believes Turkey’s central bank will raise rates by three-quarters of a percentage point, a large interest-rate increase the standards of most developed-market, but short of what some economists say is needed for the emerging market.

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