The Turkish lira depreciates slightly around 32.20 vs. the Dollar. The CBRT kept the One-Week Repo Rate unchanged at 50.0%. The central bank sees a disinflationary scenario in H2 2024. USD/TRY faces extra consolidation in the near term So far, there have been no changes to the side-lined theme around the Turkish currency, which has remained trapped within the 32.00–32.60 range since mid-March. On Thursday, the Turkish central bank maintained its One-Week Repo Rate unchanged at 50.
In the statement, the bank emphasized its vigilance regarding inflation risks, citing a limited decline in the underlying trend of monthly inflation in April. In addition, the bank also indicated that it would tighten its policy stance if a significant and persistent increase in inflation was anticipated. Moving forward, market expectations see a nearly 72 bps increase at the bank’s next gathering on June 27. It is worth noting that headline inflation in Türkiye rose by 69.