Dollar/TL started the day when the CBRT would announce its policy interest rate decision at 46.15 TL. Euro started from 53.42 TL.
CBRT will announce its policy interest rate decision at 14:00 today. The CBRT is expected to keep the policy rate constant at 37 percent. The CBRT made the last change in the interest rate in January by reducing the policy rate from 38 percent to 37 percent with a 100 basis point reduction.
When this reduction was made, the opinion of economists and banks was that the CBRT would continue to reduce interest rates for the rest of the year. However, after the conflicts between the USA and Iran that started in February, banks and economists began to report that the CBRT would not reduce the policy rate. The dollar has gained 6.36 percent in value since the start of the war. In other words, the depreciation of TL was 6.36 percent.
However, today there are also economists who expect an interest rate increase from the CBRT.
On the other hand, banking data will also be followed today.
There was no fear of US inflation. US inflation was within expectations on a monthly basis in May. Annual inflation increased to 4.2 percent. However, the lack of expected jumps in core inflation and personal incomes relieved the markets.
The USA launched an attack on Iran last night upon Trump’s instructions. In the statement made hours later by the USA, it was stated that the attacks ended. After the attacks, Iran announced that it had closed the Strait of Hormuz. Following the developments, oil prices, which started yesterday at 91 dollars, rose to 95 dollars.
