• We left the Fed meeting behind. While the meeting statement started as a dove, a hawkish image was formed in the statements of FED Chairman Powell. Powell stated that the rate of increase in interest rates may slow down provided that the data allow, and that in addition to this, the interest rate target may increase. In this way, while it was priced as 50 basis points in December-22 and 50 basis points in February-23 before the meeting, 25 basis points were added in March-23 after the meeting. On the next day of the meeting, there was a movement in favor of the Dollar in general and the Ounce Gold side fell below the 1622 support and regressed to 1616 levels.
• The Bank of England (BOE) raised the interest rate by 75 basis points to 3.00% as expected at its meeting today. In the statement made after the interest rate decision, it was stated that more interest rate hikes may be required, inflation is expected to reach its peak with 11% in the 4th quarter, and this rate hike will reduce the risk of costly tightening later on. BOE Chairman Bailey also said in his speech that they think the interest rate should increase further.
• According to the inflation rates of October in Turkey announced by TURKSTAT; While the CPI was realized as 85.51% on an annual basis and 3.54% on a monthly basis, when we look at the PPI side, it was realized as 157.69% annually and 7.83% on a monthly basis.
• While leaving the FED behind, the statements of the ECB officials started to fall as of this morning. ECB board member Panetta stated that the medium-term inflation outlook presents significant upside risks, that more policy adjustments are required, but that volatility may increase if excessive.

Looking at the statements, it seems that the ECB may continue to raise interest rates in December and maybe later. But if the economic situation deteriorates rapidly next year, it would not be a surprise to see the ECB be able to halt rate hikes in the first quarter of 2023.

• Lagarde, President of the European Central Bank; “A possible recession will not be enough to contain inflation.” Using his statements, he stated that it is necessary to be careful about the global risks that may arise from the FED’s policies.