Pressure continues on TL, bond interest rates fall

While the dollar / TL saw 18.17 and above, there was a decrease in bond rates after the Central Bank’s moves. Dollar / TL tested above 18,17 and saw the highest level of the year 2022.

On the other hand, the decline in bond yields and loan interest rates, which began last week with the Central Bank’s (CBRT) interest rate cut and continued with the association of loans and bonds, continued yesterday with a discount on the reference interest rate.

In global markets, investors will be watching the Jackson Hole symposium for clues on how sharply the US Central Bank’s (Fed) interest rate hikes will continue.

EXPECTATIONS OF A 75 BASIS POINT RATE INCREASE FROM THE FED

The Fed’s annual monetary policy conference starts today in Jackson Hole, Wyoming, and Fed Chairman Jerome Powell will speak tomorrow. According to interest rate futures contracts, there is a 60 percent probability that the Fed will raise rates by 75 basis points in September. At the beginning of the week, a 75 basis point increase was given a 50 percent probability.