Turkish Central Bank Pick an 'Opportunity Missed,' Bluebay's Ash Says

The transcript discusses the economic situation in Turkey, focusing on recent rate changes and leadership shifts within the central bank. It highlights the market's reaction to these changes, including interventions by state banks and the impact on the FX market. The discussion also covers potential future risks, such as the delivery of S400s and possible sanctions, which could lead to economic challenges similar to those faced in 2018.

What was the market's expectation before the central bank official was fired?

• A moderate rate cut

• A new economic policy

• A significant rate hike

• No change in rates

What was the market reaction to the news of the new deputy governor's appointment?

• No change in the dollar-lira exchange rate

• A significant increase in the dollar-lira exchange rate

• A slight increase in the dollar-lira exchange rate

• A significant drop in the dollar-lira exchange rate

What has been the role of state banks in the foreign exchange market recently?

• Increasing interest rates

• Buying foreign currencies

• Selling dollars

• Reducing foreign investments

What is one of the looming challenges mentioned in the transcript?

• S-400 missile system issue

• Increasing foreign investments

• Rising inflation

• Decreasing tourism

What is the potential risk if the S-400 issue is not resolved?

• Increased foreign investments

• Another economic crisis like 2018

• An economic boom

• A new trade agreement