Goldman Sachs: TCMB Will Not Change Interest Rate Until Q4 2024

The announcement that the Central Bank of the Republic of Turkey (TCMB) will not alter its interest‑rate policy may have only a modest effect on GS, given the company’s extensive global operations. Technical indicators—RSI at 57.7, a bullish MACD, and SMA20 positioned above SMA50—suggest a slight short‑term upward bias. Nonetheless, developments in Turkish markets exert a low direct influence on GS, so the overall stance remains neutral.

Goldman Sachs’ decision on the Central Bank of the Republic of Turkey’s (TCMB) interest rate is not expected to directly affect a U.S.-based technology company such as GOOGL. A 3.8% rise over 24 hours and a position above the 20‑day simple moving average (SMA) could generate modest short‑term upward pressure. However, the MACD remains below its signal line and the RSI is near 70, signalling an overbought condition. Overall, the news is projected to have a limited impact on GOOGL’s price, with market participants likely to focus more on macroeconomic data and the company’s own announcements.

The Turkish Central Bank’s statement that it will maintain rates unchanged until the fourth quarter may offer short‑term support for the Turkish lira. Goldman Sachs’ view could slightly improve investors’ risk sentiment, creating upward pressure on currency rates. However, with the RSI at 55 and the MACD above the signal line, the move does not show over‑bought risk, suggesting the rally may remain limited. A modest up‑trend exists between the 20‑ and 50‑day moving averages, indicating that the TRY could find resistance around the 45.30‑45.40 level. In the short term, a slight rise in the TRY within the 45.30‑45.50 range over the next 1–3 days is expected, but a major move is unlikely.