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USD/TRY Little Changed Following Rate Decision

TURKEY
  • Few surprises in the statement overall – the CBRT have said monetary policy is tight enough to establish disinflation (suggesting no further hikes) but have left the door open to reassess should inflationary threats emerge.
  • USDTRY had dipped marginally ahead of the decision, but is back at pre-announcement levels. Both the Borsa Istanbul Index and the Banking Sector Index extended gains on the back of the hike, adding to yesterday’s sharp rally.

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