Red Pill Or Bitter Pill?

Issue #57

Nov. 19, 2020

Can you hear it? It’s the sound of markets shouting “hallelujah” after the Central Bank under the Governor Naci Ağbal hiked the policy one-week repo auction rate by a whopping 4.75 percentage points, from 10.25 percent to 15 percent. There had been expectations of exactly a 475 bps increase following Ağbal’s appointment earlier this month …