MPC Pauses on Lira Weakness

TURKEY - Report 20 Oct 2016 by Murat Ucer

The Monetary Policy Committee left all short-term rates unchanged at today’s meeting. While this is contrary to the consensus (and our) expectation of another 25 bps cut of the O/N lending rate, these expectations had begun to be modified and shift toward a pause during the course of the past few days, after uncharacteristically cautious comments from Messrs. Ertem and Bulut, President Erdogan’s econ advisors (click here), targeted at calming the markets. Recall that the O/N lending and borrowing rates, and the weekly repo rate stand at 8.25%, 7.25% and 7.5%, respectively.

Now read on...

Register to sample a report

Register
Sign-in
Forgot your password?
Copyright 2024 GlobalSource Partners. All rights reserved. This report is prepared for GlobalSource Partners’ clients and may not be redistributed, reproduced, stored in a retrieval system, retransmitted or disclosed, in whole or in part, or in any form or manner, without the express written consent of GlobalSource Partners. This report is distributed simultaneously to our website and other portals used by GlobalSource Partners. The information herein was obtained from various sources and is believed to be reliable but GlobalSource Partners does not warrant its completeness or accuracy. Neither GlobalSource Partners nor any Country Analyst, officer or employee accepts any liability whatsoever for any direct, indirect or consequential damages or losses rising from any use of this report or its contents.