fxstreet.com 03 Feb, 2021 09:00 am

Tight CBRT policy is important for sustaining a stronger lira – MUFG

Tight CBRT policy is important for sustaining a stronger lira – MUFG
During January the Turkish lira strengthened against the US dollar from 7.4404 to 7.3050 as TRY continues to benefit from the shift to more orthodox p

FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements.It also does not guarantee that this information is of a timely nature.” “Rates on offer in Turkey now stand out as amongst the highest both in nominal and real terms in emerging markets offering more support for the lira.” “Governor Agbal has outlined plans to overhaul FX policy by stating that the CBRT will no longer sell US dollars to support the lira.

Key quotes “While the CBRT did not raise rates again at the latest policy meeting, they did provide a more hawkish than expected statement.The CBRT signalled more strongly that tight policy will remain in place for an extended period, and they are ready to raise rates further if required.

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