Central Bank of Republic of Turkey announced its latest rate decision today at 11:00 am GMT. Median expectation among economists surveyed by Bloomberg was for a 100 basis point rate cut while median expectation in Reuters poll was for 50 basis point rate hike. CBRT decided to go with a 50 basis point rate cut, slashing the one-week repo rate from 9.00 to 8.50%. The Bank said that decision was allowed by improvement in inflation trends and that scale of rate cut is adequate to support recovery. Central bank said that it is assessing the economic impact and damage of recent earthquakes that hit Turkey and Syria.
EURTRY gained following a 50 bp rate cut from CBRT. Source: xStation5
Daily Summary: Wall Street ends the week with a calm gain 🗽 Cryptocurrencies slide
BREAKING: US PCE inflation in line with expectations 🔎UoM prelim data slightly higher
BREAKING: Lower Unemployment in Canada🍁USDCAD sharply declines📉
DE40: Adequate data, Mild growth
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
