Turkey rate cut is coming
Today Turkey's central bank meets for the first time since President Tayyip Erdogan sacked its former head for not moving fast enough on cutting interest rates, now at 24%.
The new governor Murat Uysal is widely expected to deliver a rate cut, with the only question being how much.
Given the lira only recently stabilized from last year's 30% dive, a rate cut would raise the risk of the currency buckling again, but with most major world central banks now shaping up to cut rates Turkey won’t stand out so much.
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