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Trading news
16 Jan 2020
Turkey: No change of rates from CBRT – TDS
Analysts at TD Securities note that the CBRT cut the repo rate by 75bps today and was in line with the consensus, but less than our forecast of -150bps.
Key Quotes
“Going forward, the continued weakening of carry makes it hard to foresee a stronger, or even just stable, lira. TRY weakness seems a more likely outcome.”
“With high inflation, and weaker currency, we think that the CBRT will ultimately be forced to hike rates later this year.”