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    Turkish lira may strengthen in a short term

    Turkish Central Bank is expected to increase discount rate

    Baku. 23 January. REPORT.AZ/ At the next meeting tomorrow January 24, Central Bank of Turkey (CBT) is expected to increase discount rate.

    Report informs citing the Bloomberg, according to a survey among 26 analysts CBT expected to increase 7-day repo rate by 0.5 percentage points up to 8.50%.

    Notably, according to the results of survey among 21 analysts CBT will increase borrowing rate for 1 night by 0.75 percentage points up to 9.25%.

    According to the latter survey, which was attended by 15 analysts, Late Liquidity Window is expected to be increased by 1 percentage points and reach 11%.

    Analytical Group of Report states that, although the CBT will increase lira after the decision of the meeting tomorrow, lira will continue to fall in the second and third quarters. Initially, the dollar can decline to the level of 3.60 TRY / USD.However, it should be noted that the difference appeared in the discount rate and the growth rate of the consumer price index.That means growth of 0.5 percentage points tomorrow will not be sufficient.Thus, the inflation rate in 2016 was 8.53%, production prices showed 9.94% growth.January inflation is expected to be higher due to the depreciation of the lira.

    If the discount rate will not increase at tomorrow's meeting dollar rate can exceed 4.00 TRY / USD in short period of time.

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