Dollar TL rate is near its peak with investors expecting further rate cuts
Turkey's problem with interest rates is getting harder to resolve
The dollar/TL continues to fluctuate just below the new historic peak at 8.95, where the Central Bank (CBRT) rose after the interest rate cut.
While watching the CBRT investor meeting in the markets yesterday, the participants said that President KAVCIOGLU did not directly give a message of an interest rate cut similar to the September meeting, but they still expected the cuts to continue. CBRT, which cut interest rates on September 23, will announce its next interest rate decision on October 21.
THE NEXT MOVE WILL BE A CUT
A senior economist at an asset management company said: “KAVCIOGLU was reluctant to make forward-looking verbal guidance in both directions on interest rates. He was reluctant to say what would trigger the interest rate increase, and also whether there was more room for interest rate cuts. But my impression is that they are definitely on the expansionary side, and the next move will be interest rate cuts.”
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