Analytics

Turkish President Signals Lira 

Turkish monetary policy in the hands of the president

Yesterday, Turkish President Recep Erdogan said that in 2020, the interest rate of the central bank will become “unambiguous.” Considering that now it is 14%, the rate of weakening remains impressive.

Since the last head of the Central Bank does not advise the opinion of the head of state, Erdogan’s plans are unlikely to change. A weakened rate will drop the Turkish lira in the foreign exchange market.

Assets Summary
USD/TRY Long-term purchases

 

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