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TRY will likely weaken following CBRT meeting today: UniCredit

Tuesday, February 24, 2015 7:59 AM UTC

Quotes from UniCredit Research:

-The TRY will likely weaken following the CBRT meeting today (12:00 GMT).

-Our economists forecast a 50bp cut in the main refinancing rate, but we think markets are pricing in a more conservative 25bp reduction.

-We believe a 50bp cut (to both the main policy rate and overnight lending rate) will take USD-TRY back above 2.50.

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TRY will likely weaken following CBRT meeting today: UniCredit

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