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Turkey: A Policy Turn?
[private]
- Turkey’s central bank policymakers seem to be moving in the direction of an easier-money stance. The TCB has just reduced the upper ceiling of its overnight-interest rate corridor from 12% to 11%, leaving, however, the lower boundary of the corridor unchanged at 5% and the one-week repo rate also unchanged at 5.75%.
- From a practical standpoint, the move does not affect the current cost of borrowing for Turkey’s banks, which has recently hovered around 8%. But as a signal, it clearly indicates that policymakers foresee a less acute risk of inflation ahead, and also a more favorable trend regarding the current account deficit.
2-22-12–EMG INDICATORS AND INSIGHTS _Turkey’s Monetary Policy_[/private]
Research Studies
DE | Sinai Economic and Market Perspectives | Seeds of A Sovereign Debt Crisis Planted – 02/03/21
[private] [/private] Seeds of A Sovereign Debt Crisis Planted Allen Sinai* The U.S. and Global economies have undergone a fiscal/debt revolution of huge import from which there will be no turning away! The main catalysts read more
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