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- The Turkish Lira and Brazilian Real could stay supported – ING
The Turkish Lira and Brazilian Real could stay supported – ING
Rates could be raised as much as 500 bps in Turkey, and cut by 50 bps in Brazil. Economists at ING analyze TRY and BRL outlook.
Strong interest in the carry trade this year
In EMEA, the highlight will be whether the Central Bank of Turkey delivers another large hike on Thursday (+500 bps expected) in a continuing return to policy orthodoxy, while Brazil should cut rates another 50 bps in line with recent guidance.
Given the strong interest in the carry trade this year, both the Turkish Lira and Brazilian Real could stay supported despite these diverging rate stories.
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