Free Trial
US EURODLR FUTURES

Post-LIBOR Settle Update: Implied Hike Holding Steady

MEXICO

December Trade Surplus Wider Than Expected

SONIA

SONIA FIX - 27/01/23

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

Isbank Won’t Target 50% Lira Deposit Ratio

TURKEY
  • Isbank won’t target lira deposits of at least 50% of total deposits, Nasil Bir Ekonomi reports, citing CEO Hakan Aran. “We won’t have such a target, because I don’t think it’s beneficial for the country,” Aran says, adding that lenders should be respectful of depositors’ choices. Note on Friday new regulation from the central bank boosted the FX reserve commission rate it receives from banks to 8% from 3% if a bank’s lira deposit ratio is below 50%. The new regulation aims to increase lira deposits in-line with the ‘liraization’ strategy.
  • In a televised discussion programme recorded on Saturday, Erdogan said that he and Egypt President Abdel Fattah al-Sisi had spoken for around 30 to 45 minutes at that meeting on the sidelines of the World Cup in Qatar, Reuters report, saying that the process of building bilateral relations will start after years of tensions.
  • Looking ahead this week, trade balance data is on the docket tomorrow where the deficit is expected to contract from a multi-decade high of $9.60bn prior to a deficit of $8.00bn. S&P Global PMI data crosses on Thursday. The prior print of 46.4 was the lowest since 2020.
191 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.
  • Isbank won’t target lira deposits of at least 50% of total deposits, Nasil Bir Ekonomi reports, citing CEO Hakan Aran. “We won’t have such a target, because I don’t think it’s beneficial for the country,” Aran says, adding that lenders should be respectful of depositors’ choices. Note on Friday new regulation from the central bank boosted the FX reserve commission rate it receives from banks to 8% from 3% if a bank’s lira deposit ratio is below 50%. The new regulation aims to increase lira deposits in-line with the ‘liraization’ strategy.
  • In a televised discussion programme recorded on Saturday, Erdogan said that he and Egypt President Abdel Fattah al-Sisi had spoken for around 30 to 45 minutes at that meeting on the sidelines of the World Cup in Qatar, Reuters report, saying that the process of building bilateral relations will start after years of tensions.
  • Looking ahead this week, trade balance data is on the docket tomorrow where the deficit is expected to contract from a multi-decade high of $9.60bn prior to a deficit of $8.00bn. S&P Global PMI data crosses on Thursday. The prior print of 46.4 was the lowest since 2020.