The Central Bank of the Republic of Turkey (CBRT) on Wednesday announced that it cut the policy rate (one-week repo auction rate) by 50 basis points to 10.75% from 11.25% as expected. USD/TRY reaction With the initial market reaction, the USD/TRY pair gained nearly 200 pips and rose to 6.0781. As of writing, the pair was up 0.2% on the day at 6.0720. Key takeaways from the policy statement “Keeping the disinflation process in track with the targeted path requires the continuation of a cautious monetary stance.” “Maintaining a sustained disinflation process is a key factor for achieving lower sovereign risk.” “Monetary stance will be determined by considering the indicators of the underlying inflation trend to ensure the continuation of the disinflation process.” “Despite signs of recovery, investment and employment remain weak.” “Sustaining moderate course in the current account balance is considered as a crucial element of the macroeconomic policy mix.” 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 Lebanon: Increasing challenges in securing external funding – Standard Chartered FX Street 2 years The Central Bank of the Republic of Turkey (CBRT) on Wednesday announced that it cut the policy rate (one-week repo auction rate) by 50 basis points to 10.75% from 11.25% as expected. USD/TRY reaction With the initial market reaction, the USD/TRY pair gained nearly 200 pips and rose to 6.0781. As of writing, the pair was up 0.2% on the day at 6.0720. Key takeaways from the policy statement "Keeping the disinflation process in track with the targeted path requires the continuation of a cautious monetary stance." "Maintaining a sustained disinflation process is a key factor for achieving lower sovereign risk."… 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.
