In his first interview since his appointment three months ago, Turkey’s Central Bank governor told Reuters he does not expect to begin considering cutting interest rates until much later this year, and he pledged to move ahead of the markets with further rate hikes if necessary.
Business & Finance
Reuters exclusive interview: Turkey central bank chief Agbal says no rate cuts for a long time this year; market reacts
05 February 2021, 8:25 pm 1 minute
Market Impact
Agbal’s comments boosted the Turkish lira by 1% and were widely cited by analysts and investors, confirming the view that the bank is in no rush to ease the tight monetary policy Agbal introduced last year. Turkey’s dollar bonds rose and volatility dropped in a sign of market confidence.
Article Tags
Topics of Interest: Business & Finance
Type: Reuters Best
Sectors: FX & Fixed Income
Regions: Europe / Middle East / Africa
Countries: Turkey
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Important Regional Story