What came next was absurdly obvious
October 22, 2021 Leave a comment
It was the most unorthodox of monetary policy yet one that you couldn’t place the bet on.
Turkey’s Erdogan fires a bunch of central bank governors because they expressed reluctance towards lowering interest rates.
Lo and behold, a week later, Turkey’s 🇹🇷 central bank cuts rates by 200 basis points. Not 50 or a 100, but 200.
The reaction: Turkish 10 year bonds are unchanged at 19% and Turkish bank stocks little affected.
October 22, 2021
by Rob Zdravevski
rob@karriasset.com.au
rob zdravevski's blog 