The Lira exchange rate is inching weaker, relentlessly, as it has done since May. Economists at Commerzbank analyze TRY outlook as Turkey’s central ba
Granted that CBT wants to use an outright higher interest rate to stabilise the currency, but so far after two rate hikes, the day-to-day pattern of currency movement still suggests continuous FX interventions. This raises question marks about how successful CBT will be in making this transition to less capital controls.
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