Turkey’s central bank will bring interest rates to single digits within months, before rising again next year on the build-up of inflation, according to Goldman Sachs Group Inc. The central bank’s interest rate more than halved since last July to 11.25%. Key quotes The authorities will prioritize growth and reduce the policy rate as much as possible without destabilizing the lira. Recent inflation dynamics and growth in money aggregates, in our view, also increase the risk of renewed lira volatility. The key rate is forecasted to reach 10.75% at the end of 1Q, 10% at the end of 2Q, 9.75% at the end of 3Q, and then stay on hold until end-2020. Previous forecasts were for the benchmark at 11.5% by the end of 1Q, 11% by the end of 2Q, and then remaining unchanged through the rest of the year. The Turkish lira on Friday weakened past the 6-per-dollar mark for the first time since late May. At press time, USD/TRY is trading at 5.9874. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next PBOC sets Yuan reference rate at 6.9863 FX Street 2 years Turkey’s central bank will bring interest rates to single digits within months, before rising again next year on the build-up of inflation, according to Goldman Sachs Group Inc. The central bank's interest rate more than halved since last July to 11.25%. Key quotes The authorities will prioritize growth and reduce the policy rate as much as possible without destabilizing the lira. Recent inflation dynamics and growth in money aggregates, in our view, also increase the risk of renewed lira volatility. The key rate is forecasted to reach 10.75% at the end of 1Q, 10% at the end of 2Q, 9.75%… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
