CBRT Governor: Developments show rate cuts were correct decision

In his appearance on Thursday, the Central Bank of the Republic of Turkey (CBRT) Governor Şahap Kavcıoğlu said, “developments show rate cuts were a correct decision.”

Additional quotes

“Expect a decline in inflation after May.”

“Expect a rise in tourism this year.”

Market reaction

The Turkish lira caught a fresh bid on the above comments, sending USD/TRY to fresh session lows of 14.72. The pair was last seen trading at 14.80, down 0.05% on the day.