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The dollar/TL is trading at 35.4860, up 0.1% from the previous close as of 09:25. At the same time, the euro/TL is trading at 36.6280, gaining 0.2%, while the pound/TL is down 0.2% at 43.3620.
The dollar index is at 109.2, up 0.1%. While the inflation-recession dilemma continues globally, the slowdown in core inflation, which the Federal Reserve (Fed) closely monitors in its monetary policy decisions, has revived expectations that the Bank may not be as aggressive in interest rate cuts as previously anticipated.
EXPECTATIONS THAT THE FED MAY CUT INTEREST RATES IN THE FIRST HALF OF THIS YEAR HAVE STRENGTHENED AGAIN
With these developments, expectations that the Fed may cut interest rates in the first half of this year have strengthened again in the pricing of money markets, with a 52% probability that the Bank will make its first rate cut in May. While there are still uncertainties regarding the potential effects of the policies to be implemented by Donald Trump, who will take office on January 20 in the U.S., signals from macroeconomic data have somewhat alleviated concerns about a possible policy mismatch between Trump and the Fed in the new era. On the other hand, in the January issue of the "Beige Book" report, which contains assessments of the current state of the U.S. economy by the Fed, it was noted that economic activity increased at a "modest to moderate" level in late November and December of last year.
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