The dollar and the euro keep rising against Turkish Lira

After exceeding the psychological level of 10, the dollar / TL rate continues to rise. After renewing its historical peak with 10.23 today, the dollar/TL exceeded 10.28 towards the close and 10.40 after the closing of the day. The daily loss in TL approached 3 percent. Records were also refreshed in euros and pounds sterling.

The interest rate decision to be announced on Thursday is effective in the depreciation of the TL.The bank had cut its policy interest rate to 16 percent from 18 percent at the previous meeting.

The market expectation before the Monetary Policy Board (MPC) meeting is that the Central Bank will make another rate cut of 100 basis points.

Average expectation of economists for the year-end policy interest rate was 15 percent, down 200 basis points from the previous survey period.