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fxJul 23, 2026, 7:39 AM

Commerzbank Sees Dovish Corridor Risks for Turkish Lira

Commerzbank analyst Tatha Ghose expects the CBRT to keep the repo rate at 37% while signaling readiness to normalize the corridor and re-enable weekly repo once geopolitical risks subside, posing dovish risks for the Turkish lira.

USDTRY

Commerzbank's Tatha Ghose anticipates that the Central Bank of the Republic of Turkey (CBRT) will leave its one-week repo rate unchanged at 37% at the upcoming meeting. However, the bank is expected to operationally signal a willingness to normalize the interest rate corridor.

Ghose notes that the CBRT could re-enable weekly repo auctions once war-related risks diminish. This dovish corridor stance introduces potential downside pressure on the Turkish lira (USDTRY).

Source: FXStreet Forex News