Lira getting Stronger - Why?

[madmart]

The Turkish lira will receive a strong boost against the pound soon enough. We are heading out to Calis soon and the markets always react to that news by reducing the exchange rate.

You make it up out of the increase in the share price of Efes though. Doing my best to help it along at the moment.

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[cenk]

There is a meeting of Central Bank this afternoon. The economists says if an interest rate increase decision is taken in this meeting, exchange rate will drop. Lets wait and see...

[yabanci]

Big day for the lira tomorrow, TCB meeting to decide on interest rates.

Guesses anyone...

JF

Market analyst's are predicting a rate hike of up to 4 percent by the TCB today.

[blueclad]

I hope it does not drop to much were out on 1 st October just for one week .
  Its a free holiday all expenses paid  that's flight/ hotel / transfer  and the remaining £ 215 cash to spend on meals thanks Thomas Cook giving us £700 delay compo plus CIP refund  and a brilliant deal from late deals revisited who are part of TUI .
if it drops it will cost me so a trip to the bank

[JohnF]

Big day for the lira tomorrow, TCB meeting to decide on interest rates.

Guesses anyone...

JF

Market analyst's are predicting a rate hike of up to 4 percent by the TCB today.

Yes they are, but who knows how much influence the anti rate increase supreme all powerful leader will exert.  Anything less than 4% and the lira will be in big trouble.  I wonder if he'll be having one eye on the local elections coming up in the Spring and maybe accept the rates have to rise?

JF

[Daffodil2017]

I see that He is now the chairman of Turkey's wealth fund and strategic assets with his son in law as deputy.

[JohnF]

"ISTANBUL: The lira tumbled after President Recep Tayyip Erdogan said Turkey should cut interest rates just hours before the central bank is due to review policy.

Speculation has been growing that the monetary authority will deliver a sizable interest-rate increase Thursday after it signaled potential action last week to help stem accelerating inflation. The currency slid more than 3 percent against the dollar, set for the steepest decline in two weeks.

While Erdogan said the central bank is independent and will take its own decision, his comments are spooking investors. They worry that the president’s long-held distaste of higher borrowing costs will stand in the way of effective policy action needed to anchor the nation’s assets."

Full article here

I was wondering why the rates took a tumble this morning...

JF

[JohnF]

Someone at the central bank has cojones, 24%.

The wee fella will not be a happy all powerful supreme leader...

JF

[yabanci]

The wee fella will not be a happy all powerful supreme leader...

JF

Well at least he has a nice new shiny Boeing 747 to play with.

http://www.hurriyetdailynews.com/photo-qatar-emir-gifts-turkeys-erdogan-boeing-747-8-aircraft-136794

[JohnF]

He's got a far better toy than that   

I see that He is now the chairman of Turkey's wealth fund and strategic assets with his son in law as deputy.

Almost feels like he's turning the country into his own family business.

JF