While the new economic program (YEP) did not create the expected positive reaction, markets are now waiting to see how the program will be shaped in detail and how it will be implemented.
Even though it has been deemed to be positive due to the realistic targets it entails, the new economic program (YEP) could not restore confidence, especially among foreign investors.
The recent interest rate decision by Turkey’s central bank was a positive development for markets.
In recent days, the most important reason behind an ease in the foreign currency rates is an expected rate hike decision by the Central Bank in its meeting this week. Now the question is whether the interest rate hike will be three or five points.
Foreign trade inputs made public Aug. 29 showed the deficit had narrowed in July.
This will be a new and critical episode for the markets following the long Eid al-Adha or the “Feast of Sacrifice” holiday.
There is pressure on the Turkish Central Bank to raise the interest rates, though it is not clear if it will produce a result or not.
We have become a country where the first thing people start doing in the mornings when they wake up is to check foreign exchange rates, even when they are on holiday.
While a fluctuating trend is continuing in the markets, expectations about the Medium Term Program (OVP) in the framework of the future of the economy is growing day by day.