22:33 - 8.06.2026

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June 8, Fineko/abc.az. Luis Costa, Head of Emerging Markets Strategy at Citigroup (Citi), told Bloomberg HT that positive developments in the Middle East would lead to a substantial easing of global risk perceptions regarding Turkey.

ABC.AZ reports that Costa shared his insights regarding the Central Bank of the Republic of Turkey (CBRT) outlook and the future path of the Turkish Lira (TRY):

• CBRT Rate Expectations: "I do not believe it is the right time for the Central Bank to hike interest rates. During the summer months, there will be foreign currency inflows driven by tourism; therefore, I think the bank is currently in a wait-and-see mode."

• Cautious Stance on TRY: Costa noted that if current conditions in the energy sector persist, further depreciation of the Turkish Lira could be observed, justifying their ongoing cautious stance. Furthermore, he emphasized that rising real yields in the United States continue to act as a headwind for emerging market currencies globally.