Dollar / TL is Mixed Before CBRT Interest Rate Decision

Dollar / TL is Mixed Before CBRT Interest Rate Decision The US dollar / TL is mixed before the CBRT's interest rate decision. Before the result of the Central Bank's September policy meeting, the US dollar / TL exchange rate has a fluctuating appearance. USD / TRY rate, the Central Bank of Turkey (CBRT) followed a mixed trend ahead of interest rate decisions will emerge from policy meeting in September. The exchange rate, which completed yesterday (23 September 2020) at 7.7008, traded horizontally at 7.7012 to the previous close at 09.45 BST, after hitting the highest 7.7186 on Thursday. Euro / TL exchange rate did not change much and traded from 8.9823. The currency basket was recorded as 8.3406. HT Bloomberg Research Unit participated in the survey prepared by the 18 institutions of the media estimates, the Central Bank of Turkey (CBRT) meeting which will take place on Thursday, to change the policy interest rate, but the weighted average funding cost in terms of increase. Economist Haluk Bürümçekçi stated that the Central Bank should make an interest rate increase of 150 basis points as an initial, and continued his explanations as follows:   “While it seems likely that the headline and core inflation will remain at 12% and above, future inflation expectations will continue to rise. I think CDS rates which reflects Turkey’s Risk Premium will preserve its height considering the Central Bank’s interest rate corridor pressure should increase by 150 base points.”