Lira

[Colwyn]

The Monetary Policy Committee of the Central Bank of Turkey meets next Tuesday (21 Jan). What will will happen?


A.  Economically they have to raise interest rates.
B.  Politically they can't raise interests rates.
C.  In a compromise, interest rates will be raised but by a trivial amount (say, under 1%) so it won't be enough.
D.  Something else (please specify).

[desmartinson]

so explain Keith, why are their  machines not giving it to us.

[Colwyn]

The machines are of foreign design and are programmed to work with the international interest rate lobby to destablize the Turkish economy and overthrow the properly elected and legitimate Government in the current coup attempt. RTE told me so yesterday.

[desmartinson]

and colwyn please give it  a rest, you  make no sense at all, if I may, can I ask you when were you last in Calis

[desmartinson]

The machines are of foreign design and are programmed to work with the international interest rate lobby to destablize the Turkish economy and overthrow the properly elected and legitimate Government in the current coup attempt. RTE told me so yesterday.

I believe I asked that question to Keith not you.

[Scunner]

Now now Des, goodwill to all men is the CBF way. I would imagine with the majority of sterling withrawers being expats, they are getting their pounds out to benefit from the high exchange rate. They do it earlier than you  

[usedbustickets]

HSBC full this evening with lovely sterling cash.  You must be going to the wrong machines Des.

[susuz.1]

The Monetary Policy Committee of the Central Bank of Turkey meets next Tuesday (21 Jan). What will will happen?


A.  Economically they have to raise interest rates.
B.  Politically they can't raise interests rates.
C.  In a compromise, interest rates will be raised but by a trivial amount (say, under 1%) so it won't be enough.
D.  Something else (please specify).

My prediction is:

D. - The MPC and the CBT have a punchup but nothing's resolved then the meeting breaks up  

[desmartinson]

Now now Des, goodwill to all men is the CBF way. I would imagine with the majority of sterling withrawers being expats, they are getting their pounds out to benefit from the high exchange rate. They do it earlier than you   

Spot on Keith, that was what I was joking about, they beat me to it, will be there 6 am Monday morning queuing up as though it were a January sale at Harrods.

[Colwyn]

My prediction is:

D. - The MPC and the CBT have a punchup but nothing's resolved then the meeting breaks up   

I don't know how the Turkish CBank runs its business. In the UK the votes are announced some time after the decision when people have started thinking about something else. My guess would be that things are far more secretive in Turkey. But the end result of your scenario will be no change in interest rates. The same result as my choice - which is option B.