Daily Market Updates: Turkish Lira: Easing cycle resumes as carry trade holds

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Turkish Lira: Easing cycle resumes as carry trade holds – ING

Reported · Written up by our desk · Major Pairs

ING’s Frantisek Taborsky expects the Central Bank of Turkey to resume easing, cutting rates by 100bp to 36.00%, with further 100bp cuts in October and December to 35% by year-end. He notes improved inflation sentiment and contained fund-related risks but warns of weaker domestic demand. Despite crowded long TRY positions, he sees the carry trade persisting and forecasts USD/TRY at 51.50 by year-end.

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Turkish Lira: Easing cycle resumes as carry trade holds – ING

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