Turkish interest rates will be kept on hold, investors predict

April 22, 2014 by

The Turkish Central Bank (TCB) will hold meeting on Thursday April 24, where bank’s Monetary Policy Committee (MPC) are expected to review the national interest rates. Investors are predicting that, MPC will keep the interest rates on hold, due to current high inflation rates in Turkey.

 

gbptry h4 22.04.14

 

TRY continued weakening against GBP and USD after recent negative comments about Turkish economic growth from IMF, Moody’s and Morgan Stanley. Also, UK and Euro zone low inflation rates caused the TRY to lost value.