Turkey: No change of rates from CBRT – TDS

Sandeep Kanihama FXStreet Contributor

Analysts at TD Securities note that the CBRT cut the repo rate by 75bps today and was in line with the consensus, but less than our forecast of -150bps.

Key Quotes

“Going forward, the continued weakening of carry makes it hard to foresee a stronger, or even just stable, lira. TRY weakness seems a more likely outcome.”

“With high inflation, and weaker currency, we think that the CBRT will ultimately be forced to hike rates later this year.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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