TCMB Keeps Interest Rate Unchanged

TCMB’s decision to keep its interest rate unchanged did not create a major shock to the TRY, as markets did not anticipate a cut. Current technical indicators suggest that with the 20‑ and 50‑day moving averages being close to each other, the price is expected to trade sideways in the short term. The RSI sits at 54—above 50 but not near the overbought region—so it does not signal a sudden rally. The MACD is just above its signal line, indicating slight buying pressure. Consequently, over a 1‑3 day horizon, the TRY is likely to remain neutral, following a stable trend with minor fluctuations.

TCMB’s decision to keep the interest rate unchanged may exert a slight short‑term pressure on the TRY, as the market did not see the expected increase. A 24‑hour decline of 0.05% and an RSI close to 50 indicate a lack of a clear trend in the market. The MACD is negative but just above the signal line, which can be interpreted as a short‑term bearish signal. The 20‑day SMA is just above the 50‑day SMA, suggesting a mild medium‑term downward bias. Taking these factors into account, the EURTRY is expected to show a modest rise within 1–3 days.

The Central Bank of the Republic of Turkey’s decision to keep the interest rate unchanged can be interpreted as a supportive signal for the Turkish Lira. A strengthening TRY may lead to a depreciation of the British Pound in the GBP/TRY pair. Technical indicators suggest the trend is currently neutral; the RSI hovers around 50, while the MACD is negative. Consequently, a modest decline in GBP/TRY is expected in the short term (1–3 days). However, market expectations and other macro factors could also influence the outcome.