The CBRT cut by 150bps to 10.5%, bringing cumulative cuts to 350bps in last 3 meetings and the real policy rate to -73%
TRY is flat at time of writing as macroprudential measures take over for repo rate as key monetary policy instrument
"Liraization" can contain rates and currency for now, but will ultimately blow up in CBRT's face; retain Sell on TRY
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