MNI: BOJ Tankan: Key Sentiment Rises, Solid Capex Plans

MNI BRIEF: Trump Likely To Let Powell Serve Full Term-Moore

MNI BRIEF: Canada Household Debt Tops $3 Trillion In 3Q

MNI BOJ DEC TANKAN LARGE MFG INDEX +14; SEPT 13; MEDIAN +12

MNI INTERVIEW2: Poland To Push For EU Defence Fund

MNI BRIEF: China To Keep Stabilising Housing Market - CEWC

MNI: UK DEC GFK CONSUMER CONFIDENCE INDEX -17

EZ/UK Bond Supply Calendar: Belgium ORI Facility on Friday

US EIA:NAT GAS STORAGE -190 BCF TO 3,747 BCF 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

MS See Continued Pressure on TRY Adding to Upside Inflation Risks

CBRT
  • MS flag the phrasing in yesterday's CBRT policy statement, writing that the statement mentioned that new steps will be taken on collateral and liquidity policies to strengthen liraisation.* MS think that this could be related to recent news which reported that the CBRT will increase from 5% to 15% the discount rate applied to assets other than local currency government bonds used as collateral in funding operations.
  • It could also be referring to the introduction of a new 3-month TRY repo funding facility (in addition to the 1-week repo funding) to incentivise the use of lira collateral in funding.
  • The statement does not signal a tightening in the overall monetary policy stance despite the mention of additional measures. Hence, they see continued pressure on the lira adding to upside risks on inflation and expect some normalisation in real rates, either through the introduction of a new CPI-indexed bond, or an upward adjustment to deposit rates.
EM BulletHomepagemarkets-real-timeBulletEmerging Market News
EM BulletHomepagemarkets-real-timeBulletEmerging Market News

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.