Turkish Lira Falls on Prospects for Interest Rate Cut


The Turkish lira dropped today after the nation’s central bank left interest rates unchanged, but suggested that it will perform additional monetary easing in the future. The Central Bank of the Republic of Turkey maintained its lending rate at 7.75 percent today. The bank was rather optimistic about developments in the economy: Recent data suggest that final domestic demand and exports continue to grow at a moderate pace. The current policy framework is improving the current account balance. Yet it did not prevent the central bank from promising interest rate cut in the future: The Committee will maintain the cautious monetary policy stance and implement additional monetary tightening at the appropriate frequency until the medium term inflation outlook is in line with the medium term targets. USD/TRY was at about 2.0050 as of 16:10 GMT today after opening at 2.0046. If
Turkish Lira Falls on Prospects for Interest Rate Cut Turkish Lira Falls on Prospects for Interest Rate Cut Reviewed by Sopheap Chhin on 7:36:00 PM Rating: 5

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