Turkish lira surges after central bank delivers on rate hike expectations astoundingly - ConsultFX

Turkish lira surges after central bank delivers on rate hike expectations astoundingly

CBRT raised the one-week repo rate by 625 bps ForexLive That dwarfs what the market was expecting in the region of around 300 to 500 bps. The lira surged against the dollar to near 6.00 on the announcement from 6.40 levels earlier. USD/TRY has recouped some losses back to 6.15 currently but the Turkish central bank has