Turkish Central Bank Raises Interest Rates To 24%
Hello my dear Turkish lira traders & everyone else who's interested in the ongoing Turkish Lira crisis.
Big news today:
-The Turkish central bank sharply raises interest rates to 24 percent, stating that there was still an upside risk to the inflation outlook from what it called a deterioration in pricing behavior, despite weaker domestic demand conditions. Economists had calculcated only with 22 percent
-Leading to that decision, Erdogan today critized the central bank again for its mismanagement of the crisis, in the end still stating that the central bank is independent
=> That's why, even though mainstream media is writing stuff like: 'Central Bank defies Erdogan', I don't buy this. I don't think the central bank would've done this without 'green light' by Erdogan
-On other news: Erdogan has appointed himself chairman of the country’s sovereign wealth fund and completely changed its board, naming Finance Minister Berat Albayrak as his deputy, the country’s Official Gazette said on Wednesday.
-In a decision announced earlier on Thursday, he ruled that property sales and rental agreements must be made in lira, putting an end to such deals in foreign currencies.
This leads to much room for an equilibrium between the ranges of 6.8 and 5.68. Have fun watching! ;)
If you had some value from my analysis, please like & subscribe, to stay up to date on the Turkish lira crisis!
About myself: Global citizen & early Bitcoin adopter from Germany. I invested in the 2nd rally from 50 to 1.000 Dollars in BTC.
Big news today:
-The Turkish central bank sharply raises interest rates to 24 percent, stating that there was still an upside risk to the inflation outlook from what it called a deterioration in pricing behavior, despite weaker domestic demand conditions. Economists had calculcated only with 22 percent
-Leading to that decision, Erdogan today critized the central bank again for its mismanagement of the crisis, in the end still stating that the central bank is independent
=> That's why, even though mainstream media is writing stuff like: 'Central Bank defies Erdogan', I don't buy this. I don't think the central bank would've done this without 'green light' by Erdogan
-On other news: Erdogan has appointed himself chairman of the country’s sovereign wealth fund and completely changed its board, naming Finance Minister Berat Albayrak as his deputy, the country’s Official Gazette said on Wednesday.
-In a decision announced earlier on Thursday, he ruled that property sales and rental agreements must be made in lira, putting an end to such deals in foreign currencies.
This leads to much room for an equilibrium between the ranges of 6.8 and 5.68. Have fun watching! ;)
If you had some value from my analysis, please like & subscribe, to stay up to date on the Turkish lira crisis!
About myself: Global citizen & early Bitcoin adopter from Germany. I invested in the 2nd rally from 50 to 1.000 Dollars in BTC.
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