Published On: Wed, Mar 7th, 2018

Turkish Lira continues its weak course after Central Bank’s interest rate decision

Dollar lira rate could reach new record highs in case of capital outflow from Turkey

Turkish Lira continues its weak course after Central Bank’s interest rate decision – BusinessTurkeyToday.com

US Dollar / Turkish Lira rate continues its upward movement after interest rate decision of the Central Bank. Markets are focused on ECB interest rate decision to be announced tomorrow and US unemployment rates data to follow on Friday.

The CBRT  (Central Bank of Turkey) has not changed interest rates in line with market expectations and has left the late liquidity window rate as the main funding tool, at 12.75%. In the text of the decision, unlike the previous one, emphasis was placed on the main trend of inflation and the high degree of core inflation.

The exchange rate, which maintained its upward direction throughout the day, was at 3.8050 at 15:30 (afternoon) with an increase of 0.30 percent. At the same time, the euro / TL was trading at 4.7195, up 0.30 percent. In the Stock Exchange Istanbul, the BIST 100 index was down by 0.40 percent to 116,260.





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