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Turkey's "Independent" Central Bank Is Latest To Leak Policy Decision To Government
Ahead of today's Turkey central bank decision, consensus was expecting no change in either the benchmark repurchase rate (at 8.25%), nor the overnight lending and borrowing rates (at 11.25% and 7.50%, respectively). And then, out of the blue, the Turkish deputy Prime Minister was kind enough to inform markets precisely what non-consensus move the Turkish central bank will do today.
It's just a joke now: TURKEY SEES RATE CUT TOMORROW BY CENTRAL BANK, DEP. PM SAYS. And Hollande agrees?
— zerohedge (@zerohedge) January 19, 2015
Sure enough, moments ago we got confirmation that when it comes to "independent" central banks leaking information to so-called heads of state such as France's Francois Hollande, Turkey is not far behind.
- TURKEY'S CENTRAL BANK CUTS BENCHMARK REPO RATE TO 7.75%
- TURKEY CENBANK DECIDED ON MEASURED CUT IN REPO RATE
And while it kept its less relevant overnight rates unchanged, once again we saw that when it comes to "nudging" central banks (as in "Get to work, Mr Charimen"), and central banks in turn leaking decisions back to governments, it is a two-way street, and only the Swiss National Bank appears to have been exempt from front-running its decision by insolvent retail brokers. Well, at least until we get confirmation of Mrs. Kashya Hildebrand's trading tickets from last week.
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In the land of the free, Goldman leaks policy decisions to the Fed.
What the heck are we going to do w/ all these turkey's?
The first official act Obama did as President was to call these turkeys.....gotta be a reason.....just sayin.
"But, but, I did everything you asked!"
Jaimie: "Yes, you did, Leisure Suit Barry. That's why They are coming for you. I have to hop a chopper to the AFB so I can fly to Tahiti. It's been great!"
"Shit, I'll be swinging from a lamp post."
"I promise not to look."
Just curious...
Is there any evidence of a leak before the "leak"? Was there
any shift in FX, stocks etc that signaled someone had privileged info
on this?
In the states, its seems insider trading mostly occurs on the millisecond scale.
I could ask why the SEC doesn't prosecute HFT under insider trading law, but
I'm not purchasing any elections, so who would listen?
But any minute now the Fed is going to raise rates! ROFLMAO!
Bait and Switch. Ill believe it when I see it. They can "say" whatever they want.
Propaganda does not deceive people; it merely helps them to deceive themselves. ~ Eric Hoffer
This is how the 1% becomes the 1%,,,,they know in advance...
When the two choices are interest rate policy run by an Independent (of Government) or interest rate policy (in consultation with Government) which is better and which is preferred?
Putting real Turkish interest rates further into the negative.