Analytics

Turkish President Signals Lira 

Turkish monetary policy in the hands of the president

Olymp Trade, 11/12/2019 525 1 min read
40

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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