The Central Bank of Turkey cut the interest rates by 100 bps from 13% to 12%. The Central Bank proceeded with an interest rate cut as the inflation in August hit 80.2%.
USDTRY continues to hover at historical highs around 18.32.
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The Bank of Canada today held its target for the overnight rate at 4½%, with the Bank Rate at 4¾% and the deposit rate at 4½%. The Bank is also continuing its policy of quantitative tightening.
USDINR is trading unchanged after the central bank of India (RBI) six-member Monetary Policy Committee delivered the third 50 basis point interest-rate hike in its attempt to battle inflation in the country while targeting to protect the economy
AUDUSD is trading lower today after the Australian central bank in a surprising move raised the benchmark interest rates by 25 basis points, below the expectations of a 50 basis points hike.
