Should Turkey Be Raising Interest Rates?

It’s only the second trading day in 2017, and Turkish assets are already having a bad year.

The lira sank the most among the world’s major currencies to an all-time low after inflation quickened to 8.53 percent last month, 53 basis points above one of the nation’s key interest rates. That erodes the yield on Turkish assets already under pressure from growing security concerns and adds pressure on the central bank to raise borrowing costs.

Bloomberg

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.