The Central Bank of the Republic of Turkey (CBRT) announced on Thursday that it left its policy (one-week repo) rate unchanged at 8.25%. With the initial market reaction, the USD/TRY pair fluctuated wildly. After dropping below 7.2700, USD/TRY rose sharply and was last seen gaining 0.55% on the day at 7.3315. Key takeaways from the policy statement “While commercial loans have recently started to normalize, consumer loans have remained strong.” “Recent upturn in imports, which has resulted from deferred demand as well as pandemic related liquidity and credit policies, is expected to moderate with the phasing out of these policy measures.” “Tourism revenues declined due to the pandemic, easing of travel restrictions has started to contribute to a partial improvement.” “Recovery in exports of goods, relatively low levels of commodity prices and the level of the real exchange rate will support the current account balance in the upcoming periods.” “Economic recovery, which started in May following gradual steps towards normalization, is gaining pace.” 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 EUR/JPY Price Analysis: Next on the downside comes the 124.30 area FX Street 2 years The Central Bank of the Republic of Turkey (CBRT) announced on Thursday that it left its policy (one-week repo) rate unchanged at 8.25%. With the initial market reaction, the USD/TRY pair fluctuated wildly. After dropping below 7.2700, USD/TRY rose sharply and was last seen gaining 0.55% on the day at 7.3315. Key takeaways from the policy statement "While commercial loans have recently started to normalize, consumer loans have remained strong." "Recent upturn in imports, which has resulted from deferred demand as well as pandemic related liquidity and credit policies, is expected to moderate with the phasing out of these policy… 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.
