© Reuters. The Japanese yen, the world’s third most-traded currency, is underperforming, facing similar challenges as the Turkish lira and Argentinian peso over the past decade, according to George Saravelos of Deutsche Bank AG (NYSE:). Key factors such as weak yields and external accounts are pushing down the yen’s value. This year, the yen’s losses
© Reuters. JPMorgan strategists are holding off on purchasing Turkey’s longest-maturity lira bonds until yields reach 35.7%. The team’s decision comes in response to the Central Bank of Turkey’s recent actions, which have driven the 10-year lira bond index to a record-high yield of over 29%. The Central Bank’s measures include a significant 500 basis
Share: Since the surprise interest rate hike on August 24, which gave the Lira a tidy 6% boost, the Turkish currency has been depreciating as if on a string. Economists at Commerzbank analyze TRY outlook ahead of the Turkish Central Bank (CBT) Interest Rate Decision. CBT’s restrictive monetary policy is only a necessary
Share: Economists at Wells Fargo discuss Turkish Lira (TRY) outlook. Sentiment toward Türkiye can improve To be clear, we still forecast a weaker Turkish currency over the course of our forecast horizon; however, we have scaled back the magnitude of that depreciation to reflect improving and more orthodox trends in policy. After 21.50
In a significant move aimed at bolstering the lira, Turkey has increased the cost for banks to provide short-term deposits, a policy change that forms part of a $124 billion government-backed lira savings program. The new regulation was issued by the central bank and published in the Official Gazette on Thursday. Under this new rule,
