CBRT

USDTRY

USDTRY Hits 2-Week Highs On Downbeat Turkish GDP Data

The USDTRY has hit 2-week highs after data made available to the markets showed that the Turkish economy grew less than expected in the first quarter of 2020. Turkey’s GDP came in at 4.5% on an annualized basis, which was less than the forecast of 5.4%. The figure was also [...]
USDTRY

USDTRY Off All-Time Highs As Turkey Relaxes Lockdown Rules

The USDTRY has retreated from the all-time highs of last week at 7.2682 as the government of Turkey prepares to relax its lockdown rules.  Under the relaxed regime, there will be a rotational system which will see various age groups being allowed outside at various times. As children under 14 [...]
USDTRY

USDTRY: CBRT Cuts the Repo Rate from 11.25% to 10.75%

The USDTRY is trading higher on the day as the Central Bank of the Republic of Turkey (CBRT) cut the one-week repo auction rate by 50bps as expected, from 11.25% to 10.75%. The USDTRY spiked 340 pips in reaction to this move but has now pulled back slightly to 6.0745 [...]
USDTRY

The CBRT Interest Rate Decision: Implications for the USDTRY

Tomorrow February 19, 2020, at 11 am UTC, the Central Bank of the Republic of Turkey (CBRT) will announce its key interest rate, with implications for the USDTRY. The CBRT has performed five interest rate cuts since President Erdogan replaced its ex-Governor Cetinkaya over a difference of opinion in the [...]