The dollar started the day at 8.32 when the Central Bank announced its interest rate decision. Economists expect the interest rates to be kept constant at 19 percent at the meeting where Şahap Kavcıoğlu will chair for the second time.
The consumer price index (CPI) increased 17.14 percent year-on-year in April and 1.68 percent monthly. CBRT Governor Şahap Kavcıoğlu stated in the presentation of the inflation report that they expected inflation to peak in April and to follow a downward trend in the immediate aftermath. Analysts think that the inflation figures, which rose to 17.1 percent in April, did not create a suitable basis for interest rate cuts. Investment banks state in their reports on Turkey that interest rate cuts will begin in the last quarter of the year.
What kind of changes the CBRT will make in the text of the MPC decision right after the interest rate decision will also be monitored … Because the statements added and removed during the period of Şahap Kavcıoğlu gave the signals of a change in monetary policy.
On the other hand, the US non-farm payroll data, which will be released tomorrow, will be watched carefully in terms of the course of the dollar. The DXY Index, which shows the strength of the dollar against other currencies, is also at the level of 91,316. Employment data, which will be announced tomorrow, is of great importance in terms of the Fed’s policy direction.
Euro started today at 9,9964 level, just under 10 TL. The pound is at the level of 11.5844.
Source: News Global