“Many investors were hoping for a bigger increase” in key interest rates, Societe Generale executive said
Photo. AP/Ghaith Alsayed
The Turkish lira hit a new record low today after Turkey's Central Bank raised its key interest rate less than markets expected.
The Turkish lira hit a new record low exchange rate at 25.59 pounds to the dollar, a day after the country's Central Bank raised its key interest rate yesterday, Thursday, by 650 basis points to 15%, i.e. less than the markets expected.
“Many investors were hoping for a bigger increase, which contributed to the disappointment and had an impact on the pound,” said Marek Drimal, an executive at Societe Generale.
Source: RES – EIA, Reuters
Source: www.kathimerini.com.cy
