The newly appointed Central Bank of the Republic of Turkey (CBRT) Governor Şahap Kavcıoğlu said that he expects inflation to peak in April and then enter a downward trend.
Additional quotes
When asked about a possible rate cut this year, says “monetary policy decisions will be based on data.”
“Exchange rate pass-through has increased.”
“Building up reserves through re-discount credits.”
USD/TRY hits multi-day lows, then rebounds
USD/TRY tumbled to a six-day low of 8.1558 on the CBRT Governor’s comments before recovering sharply to 8.1870.
The spot was last seen trading at 8.1704, down 0.30% on the day.
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