You only need to open one account Can invest in global products
You can open an account, deposit and withdraw
The position of Governor of the Central Bank of Turkey is being replaced more and more frequently. On Saturday, local time, the Turkish government announced that central bank governor Naci Agbal had been fired, and it was only four months since he took office.
The new president will be Kafcioglu. He was born in 1967, graduated from the September 9 University of Izmir, Turkey, and obtained his master’s and doctoral degrees from the University of Marmara. Before being appointed as the governor of the central bank this time, he worked at the People’s Bank of Turkey.
Since Abar took office in November last year, in order to fight inflation, the Central Bank of Turkey has raised interest rates many times and the benchmark interest rate has been raised by 875 basis points. In November last year, the benchmark interest rate was raised to 15% from 10.25%, and then to 17% in December. On the 18th, two days before Abar’s dismissal, the Central Bank of Turkey raised interest rates by another 200 basis points under its leadership.
Brazil and Russia also announced interest rate hikes before
The Central Bank of Brazil announced on Wednesday that it will raise the benchmark interest rate by 75 basis points from a historical low of 2% to 2.75%, to 2.75%. It also said that it will raise interest rates again by the same amount at the next meeting in May, “unless inflation is forecasted.” Or a major change in the risk balance’.
The Central Bank of Russia also raised its benchmark interest rate to 4.50% this week, exceeding the estimated 4.25%, and also said that it might raise interest rates again at a future meeting.
Both the central banks of Turkey and Russia mentioned that global financial markets speculate that the Fed will tighten policy sooner than expected, despite the Fed’s guarantee that it will not raise interest rates before the end of 2023.
Currently, market indicators show that policy tightening expectations in India, South Korea, Malaysia and Thailand are also increasing. This month, the Central Bank of Ukraine also announced the tightening of monetary policy in response to rising inflation.
Risk Warning: We would like to remind you that foreign exchange margin trading is highly risky and may not be suitable for every investor. Before applying for and entering into any foreign exchange margin trading and CFDs, you should carefully consider your objectives, financial situation, needs and Level of experience, and consult an independent professional advisor if necessary. The role of Forex Margin and CFD leverage is to amplify your profit and loss. Make sure you fully understand the risks before the formal transaction, including the principal loss may be much higher If you are unable to bear the loss, please do not invest rashly. Before you decide to use our services, please browse the legal documents on the website (including risk warning, disclaimer and privacy terms), seek independent opinions, and fully understand the potential. The risk is determined before the transaction is decided.
Copyright © 2017 - 2020 . All Rights Reserved.