MNI BRIEF: US Budget Deficit $367B In Nov; FYTD Record $624B

MNI BRIEF: Former BOC Dep Beaudry Sees 2.75%-3% Rate In 2025

BOC WILL BE CONSDIERING FURTHER RATE CUTS

MNI China Daily Summary: Wednesday, December 11

MNI BRIEF: Chinese Rail Passenger Numbers Break Record

MNI: PBOC Net Injects CNY37.3 Bln via OMO Wednesday

MNI: US NOV TREASURY BUDGET -$366.8B

EZ/UK Bond Supply Calendar: BTP Auction on Thursday

US EIA: CRUDE OIL STOCKS EX SPR -1.42M TO 422.0M DEC 06 WK

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Commerzbank Revise Year-End USDTRY Forecast Higher to 30.00

TRY
  • As inflation re-accelerates, the outlook for the real interest rate will deteriorate which will further intensify exchange rate depreciation, Commerzbank say.
  • They have therefore revised up their USDTRY forecast path, with a target of 27.00 for September 2023 and 30.00 for end-2023.
  • They say TRY still appears to be kept stable by policymakers with the help of interventions as well as a plethora of FX controls which have not been dismantled.
  • Other efforts to dismantle soft capital controls or end unconventional ‘liraization’ measures have proved difficult because of the economic costs involved, Commerzbank say. They add that the current set of policies cannot be viewed to have resolved longstanding problems or restored central bank credibility.
BulletEM BulletEmerging Market NewsHomepage
BulletEM BulletEmerging Market NewsHomepage

To read the full story

Close

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.