Eyes on the dollar are at the CBRT
In the dollar exchange rate, all eyes turned to the Central Bank meeting to be held on Thursday. The first interest rate decision of the year will be announced at the CBRT MPC meeting. The expectation is that interest rates will remain constant. Dollar / TL was traded at 7.4728 on January 18th. The speech of Yellen, who will take over the US treasury tomorrow, and Biden's speech will be watched on Wednesday.
The dollar rate fluctuated between 7.30 and 7.50 due to the increase in US bond yields and the rise in the dollar index, and closed at 7.47.
On the trading week of January 18, all eyes are on the CBRT's meeting to be held on Thursday. At the first Monetary Policy Committee (MPC) meeting of 2021, the decision of the Central Bank on the policy rate will be monitored. Expectations are for the CBRT to bypass this time, while those expecting a 100-bp increase are in the minority.
The weekly repo rate, which is the benchmark rate of the Central Bank, is at 17 percent, and the overnight rate is at 18 percent. US non-farm unemployment data will be watched the same day. The speech of Yellen, who will take over the US treasury tomorrow, and Biden's speech on Wednesday will be watched. Budget balance figures stand out on the first day of the week.
On the morning of January 18, the dollar / TL changes hands at the level of 7.4728.