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Lira Gains on Relief Turkey Rate Cut Isn’t as Big as Some Feared
By
Constantine Courcoulas
12 settembre 2019, 13:06 CEST Updated on 12 settembre 2019, 14:13 CEST
The currency advanced as much as 1.5%, the most among its major peers globally, after the central bank lowered the one-week repo rate by 325 basis points, 50 basis points more than the median estimate in a Bloomberg survey. Some had speculated policy makers would slash rates much more aggressively after President Recep Tayyip Erdogan suggested over the weekend that Turkey would lower rates into the single digits “soon.”
Lira Gains on Relief Turkey Rate Cut Isn’t as Big as Some Feared
By
Constantine Courcoulas
12 settembre 2019, 13:06 CEST Updated on 12 settembre 2019, 14:13 CEST
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Currency advances as much as 1.5% after the decision -
Slowing inflation will help keep the real rate attractive
The currency advanced as much as 1.5%, the most among its major peers globally, after the central bank lowered the one-week repo rate by 325 basis points, 50 basis points more than the median estimate in a Bloomberg survey. Some had speculated policy makers would slash rates much more aggressively after President Recep Tayyip Erdogan suggested over the weekend that Turkey would lower rates into the single digits “soon.”