Fanning the flames

TURKEY - Report 18 Aug 2022 by Murat Ucer

The Monetary Policy Committee surprised the markets --and us-- today by cutting the policy rate (one week repo) by 100 bps to 13%. There are a couple of revisions in the usual accompanying statement (link here), which, parenthetically, is about 100-150 words longer than the previous one (which is often a bad sign in terms of effective communication).

Now read on...

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