LONDON- Citi and JPMorgan are expecting Turkey's central bank to hike rates by as much as 100 basis points in March to help keep inflation pressures in check.

Turkey already has the highest interest rates of any major economy, but expectations have emerged of a further rate hike after data last week showed inflation rose above 15% in February to levels it last hit in mid-2019. 

Citi said it expected a further rate rise of between 50 and 100 basis points at the central bank's monetary policy committee meeting on March 18.

The February CPI (consumer price index) "surprise" prompted it to add a final 100 basis points rate hike in March, JPMorgan said in a note circulated on Monday.

Morgan Stanley's James Lord has already said he anticipates a 100-point hike, a move that would help the lira to stabilise.

Turkey's lira was down 0.7% on Monday and has fallen in 10 of the last 11 sessions as domestic inflation, global bond yields and oil prices have all risen. 

(Reporting by Tom Arnold, editing by Karin Strohecker) ((Tom.Arnold@thomsonreuters.com; +442075428510; Reuters Messaging: tom.arnold.thomsonreuters.com@reuters.net))