32 days ago • Posted by Jasper Lawler
USD/TRY slides 2% to 7.35 after Turkish CB hikes rates by 200 bps to 19%
The Central Bank of the Republic of Turkey (CBRT) announced on Thursday that it raised its policy (one-week repo) rate by 200 basis points to 19%. Analysts' expectation was for a 100 basis points increase to 18%.
With the initial market reaction, the USD/TRY came under strong bearish pressure and was last seen losing 2% on a daily basis at 7.3500.