Turkish Lira At 2-day High Vs U.S. Dollar After Turkey Lifts Lending, Repo Rates
24 Noviembre 2016 - 1:15AM
RTTF2
The Turkish Lira climbed against the U.S. dollar in the European
session on Thursday, after Turkey's central bank unexpectedly hiked
the key lending rate and the one-week repo rate amid the
deterioration in economic activity and risks to the inflation
outlook.
The Monetary Policy Committee, led by Governor Murat Cetinkaya,
raised the key lending rate, known as the Marginal Funding Rate, to
8.5 percent from 8.25 percent. The one-week repo rate was increased
to 8 percent from 7.5 percent.
The borrowing rate was left unchanged at 7.25 percent.
Economists had expected the central bank to leave all rates
unchanged.
The Lira climbed to a 2-day high of 3.3685 against the
greenback, off its early record low of 3.4212. If the Lira extends
rise, 2.9 is possibly seen as its next resistance level.
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