iShares MSCI Turkey ETF

The Turkish Lira’s Surge: How CBRT’s Monster Rate Hike Changes the Game

monster rate hike (Credit: Ping Timeout, Singapore 2010 Youth Olympic Games - Soccer | Jalan Besar Stadium on Flickr)

After Turkish President Recep Tayyip Erdoğan’s “war of economic independence” came to an official end, I waited for evidence that the Central Bank of the Republic of Turkey (CBRT) would get serious about fighting inflation. The monetary evidence may have arrived on August 24th in the form of a monster rate hike from 17% to 25%. In … Read more

New CBRT Governor Attempts to Stabilize the Turkish lira

A change in leadership at the Central Bank of the Republic of Turkey (CBRT) slammed the Turkish lira (USD/TRY). A little over a week later, the new governor, Şahap Kavcıoğlu, granted an interview with Bloomberg to discuss recent events and monetary policy. The CBRT published a transcript of the brief interview. Thus, I assume the … Read more