Central Bank of Turkey
Turkish Central Bank Interest Rate Cut to 39.5%
October 23, 2025
A one-percentage point reduction of the Central Bank of Turkey‘s 1-week repo rate to 39.5% today is also aligned with market expectations. The rate had been as high as 50% from March 2024 though January of this year. But today’s rate drop was smaller than ones of 250 basis points last month and 300 bps […] More
Interest Rate Decisions in Korea, Turkey and Ukraine Today Were As Expected
October 23, 2025
While a planned meeting between President Trump and Xi next week in South Korea is back on schedule, the get-together between Trump and Putin planned for Budapest remains canceled due to Russia’s intransigence against negotiating an end to the war with Russia. The United States and European Union have meanwhile extended economic sanctions against Russia, […] More
Bigger-Than-Forecast Turkish Central Bank Rate Cut
September 11, 2025
A reduction of the Central Bank of Turkey‘s one-week repo auction rate to 40.5% from 43.0% exceeded analyst expectations and the sixth policy rate change amounting to 250 basis points or more since December. Not all of those moves were reductions, however. Three consecutive 250-bp cuts last December, January and March were followed by a […] More
Markets Steady As Investors Await ECB Decision, U.S. August CPI Figures, and Fallout from Shooting of Charlie Kirk
September 11, 2025
Two and a half hours prior to U.S. released consumer price data, the weighted DXY dollar index was marginally above Wednesday closing levels. Gains ranged from 0.1% against the euro and Swiss franc to 0.3% relative to the yen and Canadian, New Zealand and Australian currencies. Ten-year sovereign debt yields had risen a basis point […] More
Big Rate Cut at the Central Bank of Turkey
July 24, 2025
Today’s three percentage point cut in the Central Bank of Turkey‘s interest rate to 43.0% exceeded analyst expectations somewhat and almost reversed the entire 350-basis point hike done in April. Turkish CPI inflation of 35% last month was at a 43-month low and eight percentage points below the new central bank rate level. Officials felt […] More
Central Banks and Preliminary July Purchasing Manager Surveys Share the Spotlight Today
July 24, 2025
U.S. President Trump and his entourage will tour the controversial Federal Reserve Board renovation site in Washington today in a confrontation sure to deliver a further blow to America’s claim to keeping monetary policy free from political interference. Announced central bank decisions by the European Central Bank, Central Bank of Ukraine and Central bank of […] More
A U.S. Holiday and Many Central Bank Policy Reviews
June 19, 2025
In spite of the current U.S. govenment’s crusade against DEI, June 19 remains a federal holiday commemorating the end of slavery in 1865. Banks, the U.S. stock exchanges and non-essential federal offices are shut. In overnight trading abroad, the dollar rose 0.8% against the kiwi, 0.5% versus the Australian dollar, and 0.4% relative to the […] More
Turkish Rate Hike
April 18, 2025
In a big surprise, officials at the Central Bank of Turkey (TCMB) lifted their interest rate yesterday by 350 basis points on the heels of three cuts of 250 bps undertaken between December and March. The new rate becomes 46.0%, defying analyst expectations that it was going to be kept at 42.5% in light of […] More
Central Bank Policies in the Spotlight; Dollar and U.S. Equities Rebound
April 17, 2025
The weighed dollar index recovered 0.5% from Wednesday’s intra-day low, with overnight gains of 0.5% against the Swiss franc and yen, 0.3% versus the yen, Canadian dollar and Swiss franc, and 0.1% relative to sterling. Ten-year sovereign debt yields, which had previously declined, rose overnight by 5 basis points in Japan, 3 bps in France, […] More
Little Resolution to a Variety of Uncertainties Afflicting Investor Decisions
March 24, 2025
(199) The dollar hardly moved against most other major currencies, sliding 0.2% against the Swiss franc, Mexican peso, Australian dollar and sterling, holding flat versus the Canadian dollar, but rising 0.2% relative to the South Korean won and New Zealand dollar. Bigger gains of 0.4% and 0.6% occurred overnight against the Japanese yen and Turkish […] More
