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Top related persons:
Tayyip Erdogan - 1 Piotr Matys - 1 Dado Ruvic - 1 Erdogan - 1 Hafize Gaye Erkan - 1 Osman Cevdet Akcay - 1 Fatih Karahan - 1 Hatice - 1
Top related locs:
ISTANBUL Istanbul Ankara
Top related orgs:
Analysts - 1 Istanbul bourse - 1 Touch - 1 Turkey Lira - 1 REUTERS - 1 Wall Street - 1 Thomson - 1

Search resuls for: "Turkey Lira"


2 mentions found


☆ Turkey shocks with big rate hike to 25%, boosting lira
  + stars: | 2023-08-24 | by ( Ali Kucukgocmen Jonathan Spicer | Ali Kucukgocmen | Jonathan Spicer | ) www.reuters.com   time to read: +4 min
The surprise move leaves the policy rate at its highest level since 2019, and sent the Turkish currency to its strongest level since mid-July. The bank has raised its one-week repo rate (TRINT=ECI) by 1,650 basis points since June. The lira had touched new all-time lows almost daily in recent weeks, including in the minutes before the policy decision. The central bank said that rising oil prices and a deterioration in inflation expectations suggests that inflation will end the year at the upper bound of its forecasts. The central bank has also selectively tightened credit.
Persons: Tayyip Erdogan, Piotr Matys, Dado Ruvic, Erdogan, Hafize Gaye Erkan, Osman Cevdet Akcay, Fatih Karahan, Hatice, Ezgi Erkoyun, Christina Fincher, Angus MacSwan Organizations: Analysts, Istanbul bourse, Touch, Turkey Lira, REUTERS, Wall Street, Thomson Locations: ISTANBUL, Istanbul, Ankara
☆ JPMorgan sees Turkey lira diving towards 30 per dollar after elections
  + stars: | 2023-04-14 | by ( Marc Jones | ) www.reuters.com   time to read: +3 min
LONDON, April 14 (Reuters) - Turkey's lira is likely to drop sharply and could near 30 to the dollar following next month's elections, bankers at JPMorgan have predicted, if it looks like only modest changes will be made to its unorthodox economic policies. Turkey's tightly contested presidential and parliamentary elections on May 14 are perhaps the most consequential in the century-long history of the republic. JPMorgan's analysts said that macro adjustments were expected regardless of the results but laid out two scenarios based on the degree of commitment to more orthodox policies, such as interest rate rises to cool inflation. "Initially, lira depreciates, driven by pent-up pressures of the large stimulus ahead of the elections. "A scenario of a return to orthodox macroeconomic policies could set lira on a real appreciation trend back towards its fair value," JPMorgan said.
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