The Central Bank’s Monetary Policy Committee cut the key rate by 1.5 percentage points to 10.5 percent.
As the first reaction after the decision, the dollar/TL hit its all-time high of 18,6150.
The dollar/TL, which was withdrawn after the top, fell to 18.56 levels.
Euro/TL trades around 6:24 PM.
“THE DISCOUNT CYCLE ENDS”
The Central Bank, which cut interest rates by 1.5 points, reported that the end of the discount cycle is approaching. The statement issued after the decision read: “The board has put the end of the rate-cutting cycle on the agenda after a similar step was taken at the next meeting.”
EXPECT TWICE 75BASE POINTS FROM FED
Analysts said activity in the foreign exchange markets slowed kakım market expectations for monetary policy decisions at US Federal Reserve (Fed) meetings through the year-end concentrated at 75 basis points each.
Analysts said the Fed’s 75 basis point rate hike next month is considered certain, and their expectations for a 75 basis point rate hike before the December meeting are at 71 percent.
The dollar index stands at 112.8 today, after rising above 113 yesterday with a 0.9 percent gain. Euro/dollar parity trades at 0.9780.
Analysts noted that technically 112.5 for the dollar index is support and 114 is resistance.
CURRENT EXCHANGE PRICES
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As the first reaction after the decision, the dollar/TL hit its all-time high of 18,6150.
The dollar/TL, which was withdrawn after the top, fell to 18.56 levels.
Euro/TL trades around 6:24 PM.
“THE DISCOUNT CYCLE ENDS”
The Central Bank, which cut interest rates by 1.5 points, reported that the end of the discount cycle is approaching. The statement issued after the decision read: “The board has put the end of the rate-cutting cycle on the agenda after a similar step was taken at the next meeting.”
EXPECT TWICE 75BASE POINTS FROM FED
Analysts said activity in the foreign exchange markets slowed kakım market expectations for monetary policy decisions at US Federal Reserve (Fed) meetings through the year-end concentrated at 75 basis points each.
Analysts said the Fed’s 75 basis point rate hike next month is considered certain, and their expectations for a 75 basis point rate hike before the December meeting are at 71 percent.
The dollar index stands at 112.8 today, after rising above 113 yesterday with a 0.9 percent gain. Euro/dollar parity trades at 0.9780.
Analysts noted that technically 112.5 for the dollar index is support and 114 is resistance.
CURRENT EXCHANGE PRICES
Download the News application, stay informed of the developments