BREAKING: CBRT cuts rates by 50 bps

The Central Bank of Republic of Turkey announced the latest monetary policy decision at 11:00 am GMT. The Bank cut rates by 50 basis points, to 10.75%. The Bank said that inflation develops in-line with year-end projections. The move was expected and and saw a minor reaction on the FX market. USDTRY jumped from 6.048 to 6.076 and retested daily high.

USDTRY jumped after CBRT rate announcement. The pair attempts to break above the 6.07 handle. Source: xStation5

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