TCMB Decides to Keep Interest Rate at 37% in April Meeting

The Central Bank of Turkey’s decision to keep the interest rate at 37% signals that a cut is not anticipated in the markets. This could reduce demand for the TRY, potentially driving the dollar higher. In the short term, a modest decline in the TRY is expected within 1–3 days. However, other macroeconomic developments and global risk sentiment may also influence the outcome, so the clarity of the move may remain moderate.

The Central Bank of Turkey (TCMB) has maintained its policy rate at 37%, indicating that no increase is expected. This decision could exert modest short‑term pressure on the Turkish lira (TRY). Technical analysis shows that the price is below both the 20‑ and 50‑day moving averages, the Relative Strength Index (RSI) has fallen below 50, and the Moving Average Convergence Divergence (MACD) is negative. Consequently, a slight downward trend in the EUR/TRY pair is anticipated over the next 1–3 days.

TCMB’s decision to keep the interest rate at 37% could be interpreted as a supportive signal for the TRY. High rates may make the TRY attractive and could lead to appreciation in the GBP/TRY pair. However, market expectations and other macro factors are also influential, so the move is likely to remain limited. In the short term, a modest strengthening of the TRY is expected within 1–3 days, which could result in a downward trend for GBP/TRY.

The Central Bank of the Republic of Turkey (TCMB) has fixed its policy rate at 37%, which could reduce banks' net interest margins and create a mismatch with market expectations. For AKBNK, the share price is trading below both the 20‑ and 50‑day moving averages, and technical indicators such as the Relative Strength Index (RSI) at 39 and a negative MACD suggest downward pressure. These factors could pull the stock into a modest decline over the short term (1–3 days).