Citi expects the dollar to hit a record high at TL7.25 in the next three months and to reach TL7.75 in a year's time. The bank’s analysts think this level of lira depreciation could force the central bank to change course in the coming months. Citi’s long-term estimate puts the dollar at TL8.25, translating into a loss of 15 per cent for the lira.
Mr Unur concurred that rate increases will be necessary to ease the pressure on the lira and avoid the type
Lira sinks after money market dysfunction rattles investors
Pressure on the currency is intensifying despite heavy interventions
of inflation boom that has hampered Turkey’s economy during recent periods of market stress. He expects the country’s benchmark rate to reach 10 per cent by the end of this year from 8.25 per cent at present, with 1 percentage point increases every quarter in 2021.
Additional reporting by Tommy Stubbington
Kötümser yalnız tüneli görür, iyimser tünelin sonundaki ışığı görür, gerçekçi tünelle birlikte hem ışığı hem de gelecek treni görür.!!!
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