The Turkish lira fluctuated today as bond yields fell and on speculations that the nation’s central bank would follow other central banks in easing its monetary policy.
The slowing global economy makes central bank around the world consider easing their monetary policies. The US Federal Reserve and China’s central bank have already hinted about potential stimulating measures. Analysts say that it would be easier for Turkey’s central bank to make a decision about stimulating the economy if other central banks do the same. The yield on the two-year benchmark bonds fell 14 basis points to 7.67 percent.
USD/TRY was flat at 1.7940 as of 13:00 GMT today, while its daily high was at 1.7994 and the low at 1.7905.
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