Eyes on the European Central Bank: Historic interest rate increase expected

Despite the energy crisis and recession concerns, the European Central Bank is expected to raise interest rates by 75 basis points for the first time in its history today. In the face of the energy crisis affecting the region and inflation at record levels, Lagarde’s hints about the bank’s stance are in the focus of investors.

ECB IS EXPECTED TO RAISE INTEREST RATES BY 75 BASIS POINTS

In Europe, eyes are turning to the ECB’s monetary policy decisions and ECB President Lagarde’s statements, while pricing in money markets is estimated that the bank will raise its policy interest rate by 75 basis points for the first time in its history, with a probability of 69 percent.

The Euro / dollar rate, which gained 1 percent with the weakening of the dollar yesterday, finished the day above the 1 level and is just below the 1 level on the new day. The sterling/dollar rate, on the other hand, rose above 1.15 again, largely recouping its losses after seeing its lowest level since 1985 with 1.4053 yesterday.

The dollar / yen pair, which closed at 143.7 with a rise of 0.7 percent yesterday, is at its highest level in the last 24 years with a rise of 0.2 percent to 144.1 on the new day.

BORSA ISTANBUL CONTINUES TO SET RECORDS

Domestically, the Borsa Istanbul stock market continued to set records yesterday. Yesterday, the BIST 100 index completed the day with a gain of 0.34 percent at 3,402.81 points, achieving an all-time high daily close.

Dollar / TL is trading at the level of 18.2310 at the opening of the interbank market today after closing at 18.2271 with a horizontal course yesterday.