trending Market Intelligence /marketintelligence/en/news-insights/trending/QNVm0MpiI27OmJOaXvcFrg2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Lira rallies as Turkey delivers 'measured' rate cut

Street Talk Episode 68 - As many investors zig away from bank stocks, 2 vets in the space zag toward them

Street Talk Episode 66 - Community banks tap the debt markets while the getting is good

Street Talk Episode 67 - Veteran investor tabs Mick Mulvaney to help with latest financial stock-focused fund

Street Talk Episode 65 - Deferral practices trap US bank portfolios in purgatory

Lira rallies as Turkey delivers 'measured' rate cut

The Turkish lira rallied Jan. 16 as the country's central bank eased its monetary policy at the slowest rate in nearly six months in what it described as a "measured" move.

The Türkiye Cumhuriyet Merkez Bankası AS lowered its one-week repo auction rate by 75 basis points to 11.25%, marking the fifth rate cut under the tenure of Governor Murat Uysal.

The consensus estimate of economists polled by Trading Economics was for a 50-basis-point rate cut. The median forecast of Reuters and Bloomberg polls were for a 50-point and 75-point cut, respectively.

The Turkish lira climbed 0.4% against the dollar around 7:20 a.m. ET.

Unless downward pressure on the lira is back, more cuts are expected this year, though easing will not be as aggressive as in the second half of 2019 and will be delivered more gradually, Brown Brothers Harriman & Co. Global Head of Currency Strategy Win Thin wrote.

The central bank said the economy is recovering but investment demand and exports remain weak.

Smaller, but consistent, rate cuts are expected until the policy rate is in the single digits, TD Securities Head of Emerging Markets Strategy Cristian Maggio and Emerging Markets Strategist Izidor Flajsman said. President Recep Tayyip Erdoğan wants to bring the benchmark rate in single digits.

The central bank said the inflation outlook continued to improve, adding, "the course of inflation is considered to be broadly in line with the year-end inflation projection."

Annual inflation stood at 11.8% in December 2019, compared to a target of 8.2% at the end of 2020, Bloomberg News reported.