17.04.2025 14:51
The Central Bank raised interest rates instead of keeping them steady, as economists had expected. Accordingly, the Central Bank surprised everyone by increasing the rate by 350 basis points, bringing it to 46%. Following the decision, there was significant volatility in the money markets.
As expectations of a global economic slowdown increase, the ongoing trade wars are also affecting exchange rates. The heated trade wars and retaliations between the US and China have started to devalue the dollar against other currencies. The Central Bank of the Republic of Turkey raised the interest rate by 350 basis points from 42.5% to 46% to keep the disinflation process under control. The board increased the overnight lending interest rate from 46% to 49%, and the overnight borrowing interest rate from 41% to 44.5%.
HERE IS THE LATEST SITUATION IN THE MARKETS AFTER THE INTEREST RATE DECISION
Following the Central Bank's increase of the interest rate by 350 basis points to 46%, there were movements in the foreign exchange and precious metals markets. The biggest change after the bank's interest rate decision was seen in silver. After the Central Bank's interest rate hike decision, the dollar/TL traded around 38.10 in the free market. Euro/TL was traded at the level of 43.57.
THE MOST MOVEMENT IN SILVER
The biggest volatility during the day is seen in silver prices. The gram price of silver decreased by 1.34% to 34.64. It is noted that global developments have a more significant impact on the volatility of silver prices, which is often known for drawing a graph equivalent to gold.
RECORD-BREAKING GOLD HAS WEAKENED
After the decision, investors are intensely searching for answers to questions like "How much is gram gold in TL?", "What are the gold prices?", "Gold prices after the interest rate decision?" in search engines. A slight decrease was observed in gold prices, which are seen as a safe haven. Gram gold lost value by 0.52%.