Home / news / The Turkish lira drops slightly ahead of the central interest rate decision

The Turkish lira drops slightly ahead of the central interest rate decision

The Turkish lira fell 0.45% against the US dollar today, Thursday, ahead of a central bank meeting on interest rates, and the bank is expected to raise its benchmark interest rate by 150 basis points.

The currency reached 7.6590 against the dollar by 04:51 GMT, a level slightly below its closing price yesterday, Wednesday, at 7.6250.

A Reuters poll concluded that the central bank is expected to continue tightening policy, raising its core interest rate to 16.5% from 15% now.

The Turkish central bank had raised interest rates last November from 10.25% to 15%, on the one-week repo operations.

The central statement said at the time that it was decided to raise the interest rate; To re-establish the process of reducing inflation and support the stability of the lira.

Since the beginning of this year, the Turkish lira has declined by about 23%.




Source link

Leave a Reply