[ad_1]
Before the 97th anniversary of the Republic, half-day transactions were carried out on national markets today. An active day was experienced in the markets. The Central Bank of Turkey (CBT) to raise interest rates last Thursday went against expectations as the rapidly growing dollar / TL fire died out today.
Starting at 8.1958 lire, just below the critical level of 8.20, the dollar / TL exceeded 8.23 lire in the morning.
ESTIMATED INCREASED INFLATION
Speaking at the fourth meeting of the year’s inflation report, CBRT Governor Murat Uysal announced that the bank has raised its year-end inflation expectations from 8.9% to 12.1%, and the dollar has exceeded 8.32 and the euro exceeded 9.77 lire.
In the afternoon the dollar fell to 8.27 and the euro to 9.69. Dollar / TL closed from 8.24am before the festival.
The dollar / TL was around 7.80 lire before the CBRT decision which put the markets in the opposite corner. Contrary to the expectation of an increase, the CBRT kept the policy rate constant at 10.25% and broke the record with 7.9799 after increasing the GLP rate from 13.25% to 14.75%. The dollar / TL, which has been rising rapidly since Thursday, rose from 8.09 to 8.20 yesterday.
Istanbul Stock Exchange closed the day at 1,126 points with a drop of 2.22% parallel to the decline in world markets.
INTERNAL HOLIDAY MARKETS
The internal markets are closed in the afternoon and tomorrow due to the Republic Day.
Worldwide, the coronavirus epidemic continues to determine the direction of the markets. The increase in the number of new cases in Europe and the United States has raised concerns. In Europe, France, Spain and Italy have imposed various restrictions in order to slow the pace of the epidemic, while the increased chance of the second wave becoming tougher than expected decreases the investor’s risk appetite. This will negatively affect developing countries, including the presence of Turkey.
Source link
