Following an emergency meeting on Tuesday, the Central Bank of the Republic of Turkey (CBRT) announced that it lowered the policy rate (one-week repo auction rate) from 10.75% to 9.75%. “As developments regarding the spread of the coronavirus have weakened global growth outlook, central banks in advanced and emerging economies have taken coordinated expansionary measures,” noted the CBRT in its press release. “The pandemic disease is closely monitored for its evolving global impact on capital flows, financial conditions, international trade and commodity prices.” USD/TRY reaction The USD/TRY shot higher to 6.4893 with the initial reaction but retreated sharply in the last minutes. As of writing, the pair was trading at 6.4700, still adding 0.66% on the day. 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: Extra consolidation remains in place FX Street 2 years Following an emergency meeting on Tuesday, the Central Bank of the Republic of Turkey (CBRT) announced that it lowered the policy rate (one-week repo auction rate) from 10.75% to 9.75%. "As developments regarding the spread of the coronavirus have weakened global growth outlook, central banks in advanced and emerging economies have taken coordinated expansionary measures," noted the CBRT in its press release. "The pandemic disease is closely monitored for its evolving global impact on capital flows, financial conditions, international trade and commodity prices." USD/TRY reaction The USD/TRY shot higher to 6.4893 with the initial reaction but retreated sharply in the last… 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.
