土耳其10年期国债 (Turkey10Y) 加自选

2025年10月，土耳其里拉兑美元汇率创下41.9的新低，将今年迄今的跌幅扩大到18%左右。自2023年7月以来，人民币的逐步和有管理的贬值一直持续。土耳其中央银行在外汇市场保持着坚定的存在，以严格控制里拉的走势，政府继续奉行所谓的“实际升值”政策。在货币政策方面，央行10月降息100个基点，符合预期。这标志着连续第三次降息，尽管是当前宽松周期中最小的一次，因为通货膨胀在15个月内首次加速，9月份达到33.29%。另外，土耳其一家法院驳回了一项旨在罢免主要反对党领袖并废除其2023年国会的案件，这一决定减轻了埃尔多安总统反对者的压力，并为今年严重影响土耳其市场的政治动荡提供了一些缓解。

The Turkish lira hit a new record low of 41.9 per US dollar in October 2025, extending its year-to-date decline to around 18%. The currency’s gradual and managed depreciation has persisted since July 2023. The Central Bank of Turkey has maintained a firm presence in the forex market to keep tight control over the lira’s movement and the government continues to pursue a policy of so-called “real appreciation”. On the monetary policy front, the central bank cut rates by 100bps in October, in line with expectations. This marked the third consecutive rate cut, though the smallest in the current easing cycle, as inflation accelerated for the first time in fifteen months, reaching 33.29% in September. Separately, a Turkish court dismissed a case seeking to remove the main opposition party’s leader and annul its 2023 congress, a decision that eases pressure on President Erdogan’s opponents and offers some relief from the political turmoil that has sharply weighed on Turkish markets this year.