The CBRT will announce interest rates on Thursday, 21 May. It will be a controversial decision regardless of the final outcome, per TD Securities. USD/TRY is trading at 6.8734. Key quotes “We expect the CBRT to cut the repo rate by 100bps to 7.25%. More importantly, we will be following closely the dynamic of the CBRT’s swap book.” “We think the lira will perform based on swap activity rather than CBRT’s rate decision. We expect a minor negative reaction for TRY if the CBRT cuts 100bps as we expect, but may recover shortly after.” “With three large swap redemptions this week, before and after the CBRT meeting, we will see how TRY reacts to them. A neutral reaction on 18 and 20 May will likely leave USD/TRY also relatively neutral to a CBRT cut.” 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 USD/JPY clings to modest gains above 107.00 mark, lacks follow-through FX Street 2 years The CBRT will announce interest rates on Thursday, 21 May. It will be a controversial decision regardless of the final outcome, per TD Securities. USD/TRY is trading at 6.8734. Key quotes “We expect the CBRT to cut the repo rate by 100bps to 7.25%. More importantly, we will be following closely the dynamic of the CBRT's swap book.” “We think the lira will perform based on swap activity rather than CBRT's rate decision. We expect a minor negative reaction for TRY if the CBRT cuts 100bps as we expect, but may recover shortly after.” “With three large swap redemptions this… Top 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.
