Loading ...Chaos After Turkey Unexpectedly Keeps Rates Unchanged, Lira Implodes
FX traders were stunned – and TRY longs painfully crushed and stopped out – after the Turkish central bank unexpectedly kept the one-week repo rate unchanged at 17.75% (the overnight lending and borrowing rates were also left unchanged at 19.25% and 16.25% respectively), slamming consensus expectations of a 100bps increase which was already priced in.