Global Markets gear for impactful week with central bank decisions
Global markets brace for pivotal week as central banks' decisions take center stage
Markets are entering a busy week, with key decisions from the Central Bank and U.S. Federal Reserve set to be announced later this week.
Interest rate decisions are expected from the U.S. Federal Reserve on Wednesday and from the Central Bank of the Republic of Türkiye (CBRT) on Thursday.
The dollar started the new week at TL 32.30 (99 cents) and the euro at TL 35.20 ($1.08), an increase of 0.55% from Friday's closing.
Over the weekend, the CBRT increased the interest rates applied to credit card cash advances and overdraft accounts to 5%.
Foreign institutions expect additional interest rate increases from the CBRT, and institutions such as Deutsche Bank, JP Morgan, BOFA, and Goldman Sachs are predicting significant increases.
Following Fitch's rating increase, expectations of interest rate increases are attracting attention.
However, some experts believe that the CBRT will not increase interest rates.
Foreign exchange expectations after the election are also a matter of debate. Although foreign currency deposits have increased, experts do not expect a sharp increase.
Source: Newsroom
