28.03.2025 14:24
Prof. Dr. Cemal Zehir shared his forecasts regarding the Central Bank's interest rate policy. He stated that the effects of interest rate cuts on the market would take time to materialize. He also provided assessments on developments in the dollar, gold, and Borsa Istanbul. Zehir expressed that the price of gold per ounce would be between 3,200 and 3,400 dollars by the end of the year. Additionally, he emphasized the need to protect the value of the Turkish lira.
Prof. Dr. Cemal Zehir emphasized that the effects of interest rate cuts on the market will take time to materialize while sharing his forecasts regarding the Central Bank's interest rate policy. He also made noteworthy evaluations about developments in the dollar, gold, and Borsa Istanbul.
"THE CENTRAL BANK WILL CUT INTEREST RATES"
Prof. Dr. Cemal Zehir stated that the Central Bank will not postpone the reduction of the policy interest rate, saying, "The Central Bank has taken certain measures to prevent the negative reflection of the political developments on the market." He also added that he expects an interest rate cut that will accelerate housing and vehicle purchases starting from June.
"SIGNIFICANT CHANGES WILL OCCUR IN DOLLAR AND GOLD MARKETS"
Zehir, in his assessment of dollar and gold prices, stated, "The price of gold per ounce will be between 3,200 and 3,400 dollars by the end of the year." Noting that the U.S. will announce a 25% customs tariff on imported cars, Zehir said this situation will affect the global economy.
"MY YEAR-END DOLLAR FORECAST IS BETWEEN 40 AND 42 LIRA"
Addressing the role of the dollar in global markets, Zehir said, "When the value of the dollar decreases, investors turn to gold." He indicated that he expects the dollar exchange rate in Turkey to be between 40 and 42 lira by the end of the year, pointing out that "In 2008, one dollar was at the level of 1 lira and 15 cents; today, one dollar is at the level of 38 lira."
"THE VALUE OF THE TURKISH LIRA MUST BE PROTECTED"
Speaking about the general state of the economy, Zehir said, "By keeping the value of the Turkish lira low, 84 million people are suffering to please a handful of exporters in Turkey." Emphasizing that the value of the TL must be protected, he stated, "What should be done is to protect the value of our currency; the value of the TL is the reputation of the Turk."