Weekly comment MM Prime TFI - August 27, 2018
Due to the last week’s holiday of Kubram Bayram, the tension around the situation in Turkey and emerging markets weakened noticeable. However, it did not mean that the politic and economic problems of Ankara lost their importance. Last week, the minutes from the last meetings of the FOMC and the ECB Governing Council were in the spotlight. The documents did not bring anything new, whereas they confirmed previous plans and announcements of the banks. It is worth mentioning the Jackson Hole Symposium as well, especially the speech of Jerome Powell. The Fed chief confirmed the bank’s readiness to continue gradual interest rates raises, however, he also added these would depend on the macroeconomic situation.