Flash Report /
Turkey

Turkish lira collapse stoked by another rate cut

  • CBRT cut by another 100bps as expected, sending real rate further into negative territory (-7.3%)

  • Lira down another 5%+ today, bringing total drop to 12% on the week, 38% since October, and 52% ytd

  • Lira increasingly disconnected from fundamentals, but could still continue to drop; retain Sell

Turkish lira collapse stoked by another rate cut
Patrick Curran
Tellimer Research
16 December 2021
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