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

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