After the central bank's decision .. Turkish Lira in the wind

by **Rocky** Wed 21 Dec 2016, 4:04 am

Rocky: Admin Assist; Posts : 281327
Join date : 2012-12-21

Post n°1

After the central bank's decision .. Turkish Lira in the wind

by Rocky Wed 21 Dec 2016, 4:04 am

After the central bank's decision .. Turkish Lira in the wind

Economy News / Continue ...

Entered the Turkish currency (lira) fluctuations in accelerated phase after the Turkish central bank's decision Tuesday to keep the interest rate unchanged, while the other is expected to raise interest rates just like the bank's decision last month when he filed for the first time in nearly three years.
The pound rose nearly 1 percent against the dollar before the Bank's decision, despite the psychological impact of the assassination of the Russian ambassador in Ankara on the dealers, to come back down after the bank's decision and up to 3.54 pounds to the dollar.

Regarding monetary policy experts believe that the bank needs to raise interest rates to support the currency, sees Turkish president, Recep Tayyip Erdogan, that the central bank not to raise interest rates, if not reduced.

The decision to raise interest rates in November, failed to support the lira, which reached its lowest value in the first week of December at 4.58 pounds to the dollar.

Analysts attributed this to the rise in oil prices and political turmoil after the OPEC agreement and producers from outside the production-control.

The Turkish lira has lost 17.5 percent of its value this year, of which nearly five percent in the past month alone.

According to the Financial Times newspaper, the Turkish lira has become the second-worst performance of the currencies of emerging economies in 2016 after the Argentine peso.

http://economy-news.net/content.php?id=6171