BREAKING: Lira slumps after massive CBRT rate cut

The Central Bank of the Republic of Turkey announced a monetary policy decision at 12:00 pm BST. While a rate cut was expected, economists were divided on scale of the cut - some expected a 100 basis point reduction while others pointed to 50 basis point reduction. Neither group was right with CBRT delivering a massive 200 basis point rate cut to 1-week repo rate. Market reaction was not surprising - Turkish lira slumped to fresh record lows against euro and the US dollar. CBRT looks to be fully supporting the unorthodox monetary policy view of the Turkish President, especially after Erdogan fired those central bankers that opposed it.

A look at EURTRY chart shows that the pair has snapped a short-term downward streak and leaped above the downward trendline. The pair moved above 11.00 for the first time in history. USDTRY moved above 9.40.

Source: xStation5

30 October 2026, 4:05 PM

🔴Three Markets to Watch Next Week: US500, BITCOIN, EURUSD (30.10.2026)

30 October 2026, 3:33 PM

Gold prices drop sharply at the end of October. The collapse of the safe-haven myth or a search for liquidity?

30 October 2026, 9:55 AM

Chart of the Day: USDJPY After Fed and BoJ decisions. Is Japan getting closer to another rate Hhike?

30 October 2026, 6:56 AM

Economic Calendar: Preliminary European GDP and German Inflation in Market Focus

Forex Economic reports

Prefer XTB on Google

Cookie name	Description
SERVERID
userBranchSymbol	Expiration date 1 day
test_cookie	Expiration date 1 hour
adobe_unique_id	Expiration date 364 days
__hssc	Expiration date 1 hour
SESSID	Expiration date 1 day
__cf_bm	Expiration date 1 hour
intercom-id-iojaybix	Expiration date 270 days
intercom-session-iojaybix	Expiration date 6 days
xtbCookiesSettings	Expiration date 364 days
TS5b68a4e1027
countryIsoCode
xtbLanguageSettings	Expiration date 364 days
userPreviousBranchSymbol	Expiration date 364 days
intercom-device-id-iojaybix	Expiration date 270 days
__cfruid
_cfuvid

Cookie name	Description
_gid	Expiration date 1 day
_gat_UA-98728395-1	Expiration date 1 hour
_gat_UA-121192761-1	Expiration date 1 hour
_gcl_au	Expiration date 89 days
_ga_CBPL72L2EC	Expiration date 729 days
_ga	Expiration date 729 days
__hstc	Expiration date 179 days
__hssrc
_vwo_uuid_v2	Expiration date 365 days
_ga_TC79BEJ20L	Expiration date 729 days
_vwo_uuid	Expiration date 365 days
_vwo_ds	Expiration date 29 days
_vwo_sn	Expiration date 1 hour
_vis_opt_s	Expiration date 99 days
_vis_opt_test_cookie
af_id	Expiration date 394 days
afUserId	Expiration date 730 days
AF_SYNC	Expiration date 6 days
AnalyticsSyncHistory	Expiration date 29 days

Cookie name	Description
MUID	Expiration date 389 days
_omappvp	Expiration date 3998 days
_omappvs	Expiration date 1 hour
_uetsid	Expiration date 1 day
_uetvid	Expiration date 389 days
_fbp	Expiration date 89 days
fr	Expiration date 89 days
_ttp	Expiration date 89 days
_tt_enable_cookie	Expiration date 89 days
hubspotutk	Expiration date 179 days
IDE	Expiration date 389 days
YSC
VISITOR_INFO1_LIVE	Expiration date 179 days
li_sugr	Expiration date 89 days
guest_id_marketing	Expiration date 729 days
guest_id_ads	Expiration date 729 days
guest_id	Expiration date 729 days
muc_ads	Expiration date 729 days
VISITOR_PRIVACY_METADATA	Expiration date 179 days
MSPTC	Expiration date 389 days

Cookie name	Description
bcookie	Expiration date 364 days
lidc	Expiration date 1 day
UserMatchHistory	Expiration date 29 days
bscookie	Expiration date 364 days
li_gc	Expiration date 179 days
personalization_id	Expiration date 729 days