The Central Bank of the Republic of Turkey delivered a bigger-than-expected rate hike today. Market expected CBRT to raise the 1-week repo rate to 18% from 17%. However, the Bank increased the rate to 19% instead. CBRT also said that tight monetary stance will be maintained and additional tightening will be delivered if needed. USDTRY slumped from 7.46 to below 7.35 on the decision.
USDTRY slumps after CBRT delivered a bigger-than-expected rate hike. Source: xStation5
BREAKING: Eurozone economy slows down unexpectedly❗️EURUSD without direction 🇪🇺
Chart of the Day: Yen breaks beyond 160 as the market tests the limits of the “red line”
Morning Wrap: Record-breaking Big Tech results driven by AI, Fed delivers no surprises
Daily summary: Powell remains in Fed 🏦 Oil skyrockets 🛢️ 🚀