Bond deal the next step as Turkey delivers longed for rate hike

AdobeStock_Turkey_up_575x375_09Nov2020
By Mariam Meskin
19 Nov 2020

The Central Bank of the Republic of Turkey delivered a much anticipated interest rate hike on Thursday, fulfilling market watchers' hopes that the country will reform its way to economic recovery. A trip to the primary bond market for the sovereign could be imminent.

Central bank governor Naci Ağbal, who was brought in almost two weeks ago to replace Murat Uysal — ousted by president Recep Tayyip Erdoğan — announced on Thursday that the new one week repo rate would be 15%, up from 10.25%.

The central bank had raised its rate by ...

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