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While the effects of increases in US bonds in USD / TL and discussions on losses of Central Bank reserves (CBRT) were followed, the CBRT increased the required reserves denominated in TL as a measure to reduce the supply of TL in today’s market.
NEW STEP FOR CBRT
The Central Bank of Turkey in the decision published in the Official Gazette, TL mandatory reserve ratiosIt was indicated that, in each term, it increased by 200 basis points.
Yesterday it rose to level 7.11 dollar / TLit is trading at 7.12 today. Draw a similar graph euro / TL you’re looking at 8.66 levels.
WARNING FROM THE PRESIDENT OF THE FED: THE ECONOMY IS FAR FROM OUR GOAL
There have been concerns of inflation rising in the US for a while. This is reflected in the market outlook. Fed Chairman Jerome Powell eased these concerns. In his presentation to the Senate Banking Committee, he said that the economy is far from the employment and inflation targets. Referring to the impact of the epidemic on inflation, the Fed chairman said: “Overall, 12-month inflation is below our long-term target of 2 percent.”
While there is a quiet data agenda at the national level today, global markets coronavirus It will follow developments related to the epidemic.
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