Turkish Lira Climbs To Fresh 2-week High Against U.S. Dollar After Turkey Rate Hike
18 Marzo 2021 - 3:06AM
RTTF2
The Turkish Lira appreciated against the U.S. dollar during the
European session on Thursday, after Turkey's central bank resorted
to a bigger-than-expected rate hike, citing upside risks to
inflation expectations.
The Monetary Policy Committee of the Central Bank of the
Republic of Turkey governed by Naci Agbal decided to lift the key
one-week repo rate sharply to 19.00 percent from 17.00 percent.
The tight monetary policy stance will be maintained decisively,
taking into account the end-2021 forecast target, for an extended
period until strong indicators point to a permanent fall in
inflation and price stability, the MPC said.
The Turkish Lira rose to a fresh 2-week high of 7.3217 against
the greenback from yesterday's closing value of 7.4936. The Lira is
seen finding resistance around the 6.8 region.
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