TRY traders - President Erdogan said Turkey will make serious cuts to interest rates

Author: Eamonn Sheridan | Category: News

After firing the head of Turkey's central bank last weekend Erdogan was at it again this weekend.

Turkish media report:
  • Turkey will make serious cuts to interest rates,
  • Turkey aims to reduce inflation from above 15% by the end of the year
  • to also target interest rates over the same time period
So ….  everywhere else cuts rates to boost inflation, Turkey to cut rates to lower inflation. Should be one to keep the nutjobs happy ;-) 

ps. Economists expect Turkey to cut rates by 200 basis points on July 25

TRY traders, on the other hand, can just get on with trading:

After firing the head of Turkey's central bank last weekend Erdogan was at it again this weekend.

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