On Thursday, the Central Bank of the Republic of Turkey (CBRT) rose its key rate by 200bps to curb lira’s weakness. According to analysts from Rabobank, the efforts from the central bank to stabilise the currency via higher interest rates should be accompanied by the Erdogan administration accelerating the pace of structural reforms. Key Quotes: “The question is whether the 200bps hike will prove sufficient to stabilise the lira? While today’s move is a very important step in the right direction, as it reduces risk of inflation and financial stability, the CBRT will have to do more to restore shattered confidence in the lira not only amongst foreign investors, but also amongst domestic households and corporates.” “Today’s decision provides the severely battered lira with a much needed respite. However, we have to mindful that the 200bps hike is just the beginning of a difficult challenge of restoring confidence in the lira. Efforts to stabilise the currency via higher interest rates should be accompanied by the Erdogan administration accelerating the pace of structural reforms. The CBRT cannot do it on its own.” 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 US: Homebuilders are clearly selling homes faster than they can build them – Wells Fargo FX Street 2 years On Thursday, the Central Bank of the Republic of Turkey (CBRT) rose its key rate by 200bps to curb lira’s weakness. According to analysts from Rabobank, the efforts from the central bank to stabilise the currency via higher interest rates should be accompanied by the Erdogan administration accelerating the pace of structural reforms. Key Quotes: “The question is whether the 200bps hike will prove sufficient to stabilise the lira? While today’s move is a very important step in the right direction, as it reduces risk of inflation and financial stability, the CBRT will have to do more to restore shattered confidence… 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.