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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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MNI Credit Weekly: Le Vendredi Noir
CBRT Meeting Coincides With USD/TRY Near Alltime Highs
- The CBRT decision due at 1200BST/0700ET today is expected to show the bank on hold after a surprise rate cut at the August meeting, however risks remain skewed to the downside. Full MNI preview here: https://roar-assets-auto.rbl.ms/documents/18456/MNICBRTPrevSep22.pdf
- Ahead of today’s CBRT decision, the Borsa Istanbul uptick rule against short-selling has gone into force, which could stabilise markets following acute volatility in Turkish bank shares in recent weeks. USD/TRY has continued to trend higher, with the rate touching 18.3565 today, just shy of the record high intraday print from December last year at 18.3633.
- The leader of the CHP has denied reports of crisis among the six-party coalition that forms the main opposition to Erdogan’s AKP. In the Cumhuriyet piece, Kilicdaroglu added that his coalition is satisfied with current polling and that votes are increasing steadily.
- The minister of commerce has appealed directly to US investors, in a statement promising that the Turkish government will always be ready to cooperate, with Turkey already meeting the requirements for production, stability and risk-taking for inward US investment.
- Consumer confidence data also crosses as well as the weekly foreign investor flow data.
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.