Germany's Commerzbank analyst Tatha Ghose has reported that Turkey's recent intervention measures following the lira's decline due to Middle East conflict appear justified. According to Jin10, the Turkish central bank has halted weekly repo auctions and introduced new lira-settled forward foreign exchange instruments. Ghose noted that the current market environment is uniquely suited for temporary rather than permanent policy responses. He suggests that while these interventions may limit the lira's short-term decline, the currency is likely to continue its downward trend in the medium to long term.