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Stock impact report

Turkish Lira Slips on Erdogan Rates Talk, Lags EM Currency Index [Yahoo! Finance]

Citigroup, Inc. (C) 
Last citigroup, inc. earnings: 4/15 08:00 am Check Earnings Report
US:NYSE Investor Relations: citigroup.com/citi/investor/pres.htm
Company Research Source: Yahoo! Finance
on Monday, as President Recep Tayyip Erdogan's comment on interest rates fanned concerns about a return to the unconventional monetary policies he has espoused in the past. Most Read from Bloomberg Migrant Crisis Pushed US Homelessness to Record High in 2024 The lira dropped 0.6% against the dollar, bringing its year-to-date depreciation to about 16% this year. In contrast, MSCI's EM currency index was largely flat on Monday and is marginally in the red for 2024. Erdogan's comment that interest rates would definitely fall next year and that “2025 will be the mark year for this” came after Turkey's central bank cut its policy rate for the first time since 2023. Analysts now expect rates to fall at every policy meeting in 2025, despite officials cautioning against an uninterrupted easing cycle. Erdogan's statement “might raise market concern that there may be an interest rate cut process that is not compatible with inflation,” said economist Haluk Burumcekci of Burumcekci Rese Show less Read more
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