Turkey: Lira set for big moves amid leadership changes at central bank and MoF

  • Over the weekend, CBRT Governor Murat Uysal was fired and Finance Minister Berat Albayrak resigned

  • TRY has gained c5% in response, reflecting market expectations of a shift towards more orthodox policymaking

  • If policymaking does not materially change and the CBRT fails to hike rates on 19 Nov., strength will be short-lived
November 9th, 2020
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