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Assets in Turkish liras started the new week at a loss. While the TL continued to melt against the dollar and euro, the bullish trend in the stock market ended today. There was an increase in yield and 10-year CDS from Turkey.
The decision surprises of the Monetary Policy Committee of the Central Bank of the Republic of Turkey (CBRT) reappear after the direction of the dollar / TL began the new week at the top.
USD / TL rose from the 7.7935 levels before the MPC to 8.0896, the new peak. Drawing a similar chart, the euro / TL took its historical levels to 9.5680. Both pairs were up 1.5 percent today.
In the stock market, the 1,144 level was tested with a loss of 3.5 percent.
President Erdogan called for a boycott of French products and called on the Council of Europe to increase Islamophobia.
Eyes on the inflation report presentation
The inflation report to be made by the Central Bank on Wednesday is one of the most important items on this week’s agenda. The CBRT is expected to revise its year-end inflation forecast from 8.9 percent in the last inflation report of the year to around 10.5 percent in line with the NEP. The messages that CBRT president Uysal will give to the market are also considered important in terms of the TL course.
Meanwhile, the CBRT awarded TL 5 billion in the traditional one-month repo auction at simple interest of 14.75 percent.
Three major central banks to announce interest rate decision
This week, three large central banks will hold a conversion board meeting. Markets, Canada The Central Bank and the Bank of Japan postpone interest rate decisions for now. While you wait, the European Central Bank will be wary of inflation and growth. waiting.
President Erdogan calls for a boycott of French products
