Free Trial

UniCredit Say Gradual Manner Of Tightening May Not Bode Well For TRY

TURKEY
  • The Turkish Lira proved resilient, remaining at around 26.90 against the USD and without hitting new record lows beyond the 27.1575 it hit on Wednesday. Once again, the CBRT hiked the one-week repo rate by less than UniCredit and markets had expected (this time by only 250bp to 17.50% compared to the 300-350bp expected).
  • The CBRT reiterated that tightening will be delivered in a timely and gradual manner, and this might not bode well for the currency.

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.