USD/TRY: Inappropriate policy continues to pose downside risks for the lira – MUFG USDTRY Turkey Banks
from 17.92 to 18.18. In the view of economists at MUFG Bank, risks remain heavily tilted to the downside for the TRY.“Turkey’s economy appears to be overheating with domestic demand still robust, the trade balance widening sharply and very elevated inflation.” will further undermine confidence in domestic policy settings and in the lira.”
“The policy rate in Turkey now appears even more inappropriate. After adjusting for inflation of 79.6% in July, the real policy rate has fallen even deeper into negative territory. It should keep downward pressure on the lira.”Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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