Latest topics
Turkish lira notches more record lows on rate-cut concerns
Page 1 of 1
Turkish lira notches more record lows on rate-cut concerns
2021-10-15 05:50
Shafaq News/ Turkey's lira touched new lows against the dollar and euro on Friday, hamstrung by worries over more interest rate cuts despite high inflation, after President Tayyip Erdogan dismissed three central bank policymakers.
Two of the three monetary policy committee (MPC) members ousted on Thursday were seen to oppose the bank's 100 basis-point rate cut to 18% last month, and their dismissal clears the way for more policy easing as soon as next week.
A survey by the central bank showed market participants expected the rate to hit 16.6% in three months, representing cuts of 140 basis points, while inflation expectations rose.
The lira lost as much as 0.5% to hit an all-time low of 9.24 against the U.S. currency. It stood at 9.2380 at 0935 GMT and has weakened more than 19% so far this year.
It also touched a record 10.7235 against the euro, according to Reuters.
Analysts viewed the latest central bank personnel changes as fresh evidence of political interference by Erdogan, a self-described enemy of interest rates who frequently calls for monetary stimulus.
The bank's next policy meeting is on Oct. 21.
According to initial results of a Reuters poll, most economists expect a rate cut next week and some may respond to the MPC shakeup by predicting a more aggressive easing.
https://shafaq.com/en/Economy/Turkish-lira-notches-more-record-lows-on-rate-cut-concerns
*****************
>>>TNTBS's YouTube Channel<<<
RamblerNash- GURU HUNTER
- Posts : 24270
Join date : 2015-02-19
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum
Fri May 10, 2024 5:03 pm by kenlej
» Go Russia
Sun May 05, 2024 11:37 am by kenlej
» Go Russia
Sun May 05, 2024 10:51 am by kenlej
» Textbook Tony
Mon Apr 29, 2024 4:13 pm by Mission1st
» The Rockefellers and the controllers are freaking out right about now
Fri Apr 26, 2024 11:16 am by kenlej
» Phony Tony sez: Full Steam Ahead!
Sat Apr 13, 2024 11:51 am by Mission1st
» Dave Schmidt - Zim Notes for Purchase (NOT PHYSICAL NOTES)
Sat Apr 13, 2024 11:45 am by Mission1st
» Russia aren't taking any prisoners
Fri Apr 05, 2024 6:48 pm by kenlej
» Deadly stampede could affect Iraq’s World Cup hopes 1/19/23
Wed Mar 27, 2024 6:02 am by Ditartyn
» ZIGPLACE
Wed Mar 20, 2024 6:29 am by Zig
» CBD Vape Cartridges
Thu Mar 07, 2024 2:10 pm by Arendac
» Classic Tony is back
Tue Mar 05, 2024 2:53 pm by Mission1st
» THE MUSINGS OF A MADMAN
Mon Mar 04, 2024 11:40 am by Arendac
» Minister of Transport: We do not have authority over any airport in Iraq
Mon Mar 04, 2024 11:40 am by Verina
» Did Okie Die?
Mon Mar 04, 2024 11:34 am by Arendac
» Hello all, I’m new
Wed Jan 31, 2024 8:46 pm by Jonny_5
» The Renfrows: Prophets for Profits, Happy Anniversary!
Wed Jan 31, 2024 6:46 pm by Mission1st
» What Happens when Cancer is treated with Cannabis? VIDEO
Wed Jan 31, 2024 8:58 am by MadisonParrish
» An Awesome talk between Tucker and Russell Brand
Wed Jan 31, 2024 12:16 am by kenlej
» Trafficking in children
Mon Jan 29, 2024 7:43 pm by kenlej