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The Central Bank of Turkey decides on interest rates. How did this affect the lira?

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Today, Thursday, the Central Bank of Turkey at its first meeting in 2023 kept the main interest rate unchanged at 9%.

“The Monetary Policy Committee of the Central Bank of Turkey has kept the weekly interest rate on REPO transactions unchanged at 9%,” the Turkish regulator said in a statement.

Last December, the Central Bank of Turkey did not cut the interest rate for the first time since July 2022, and kept it at 9%, and before that it had been gradually reducing it from 14%.

And by 14:35 Moscow time, the dollar rose by 0.16% to 18.7915 Turkish liras, according to Bloomberg data.

Below is the trading direction of the lira against the dollar during the year:

Source: Bloomberg + News

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