Paul Fage, Senior Emerging Markets Strategist at TD Securities, notes that at yesterday’s meeting the MPC kept all its policy rates on hold even as TDS and the consensus had expected a 100bps hike. Key Quotes “According to the press statement, the CBRT thinks that, given the slowing economy, it has done enough tightening, but that it is prepared to maintain a tight policy for some time.” “Yesterday’s decision was something of a litmus test for CBRT monetary policy. The market was hoping for a signal that the CBRT could still exert its independence under the new presidential system, but they did not get it.” “We think the risks for Turkish assets remain skewed to the downside and think that the CBRT will probably be forced to hike rates again at the September meeting or even earlier.” 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 EU’s Oettinger: EU could try to seek a wide reduction of tariffs in negotiations with US FX Street 5 years Paul Fage, Senior Emerging Markets Strategist at TD Securities, notes that at yesterday's meeting the MPC kept all its policy rates on hold even as TDS and the consensus had expected a 100bps hike. Key Quotes "According to the press statement, the CBRT thinks that, given the slowing economy, it has done enough tightening, but that it is prepared to maintain a tight policy for some time." "Yesterday's decision was something of a litmus test for CBRT monetary policy. The market was hoping for a signal that the CBRT could still exert its independence under the new presidential system, but… 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.
