Turkish lira down 15% after the dismissal of the central bank governor

Turkish President Erdogan has gone back to his old practices by sacking the governor of the central bank, guilty of carrying out an overly restrictive monetary policy. The market reaction was not long to come: sharp fall in the Turkish lira and in domestic equities. Turkey should not remain an isolated case: with the rise in US bond yields and in the USD, downward pressures on emerging markets should intensify. There could be a little breathing room today: US bond yields are easing, but the USD remains strong, below 1.19 against the euro.

usd in turkish lira
Share this news :

You might also read :

ES-gas
June 23, 2022

Moderate price increase overall

European gas prices were mixed yesterday: lower in the UK, higher overall on the continent as concerns on Russian supply continued to lend support. Russian…
ES-power
January 21, 2021

EUAs retreated after an early jump

The European power spot prices continued to fade yesterday amid forecasts of milder and windier weather. Prices hence eroded 5.05€/MWh to 38.89€/MWh in France, Germany,…
April 14, 2021

Energy markets: towards a bullish summer?

The EnergyScan team held its quarterly webinar covering key trends and events on energy markets. In this webinar, our experts addressed the following topics, with…
Join EnergyScan

Get more analysis and data with our Premium subscription

Ask for a free trial here

Subscribe to our newsletter

Don’t have an account yet? 

[booked-calendar]