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The Central Bank of the Republic of Turkey (CBRT) announced on Thursday that it left its policy (one-week repo) rate unchanged at 19% as expected.  

Market reaction

With the initial market reaction, the USD/TRY rose to 8.0800 area before making a sharp U-turn. As of writing, the pair was down 0.65% on the day at 8.0175.  

Developing story…

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