According to analysts at TD Securities, the CBRT removed the mention to “if needed, further monetary tightening will be delivered” which is a dovish signal and has been taken very negatively by the market as it reduces the CBRT commitment to hiking rates again if need be. Key Quotes “Given the upwards pressure on USDTRY in recent weeks, we think that the removal of this pledge shows a remarkable degree of complacency and/or naivety on behalf of the CBRT.” “In line with the almost unanimous consensus, at today’s MPC meeting, the CBRT kept its key policy rate, the repo rate, on hold at 24%.” “We maintain our bearish view on the lira and see USDTRY at 7.90 by end-Q2 and higher at 8.90 by end-Q3. We see the CBRT as being forced to hike further in the coming months, with a terminal WACF rate at around 30%.” 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 ECB’s de Guindos: Quantitative easing is something we can use again if needed FX Street 4 years According to analysts at TD Securities, the CBRT removed the mention to "if needed, further monetary tightening will be delivered" which is a dovish signal and has been taken very negatively by the market as it reduces the CBRT commitment to hiking rates again if need be. Key Quotes "Given the upwards pressure on USDTRY in recent weeks, we think that the removal of this pledge shows a remarkable degree of complacency and/or naivety on behalf of the CBRT." "In line with the almost unanimous consensus, at today's MPC meeting, the CBRT kept its key policy rate, the repo rate,… 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.
