Fitch: Turkey is not doing enough to strengthen the pound

Credit rating agency Fitch reviewed Turkey’s chief analyst Douglas Winslow, noting that insufficient efforts were made to strengthen the Turkish currency, the year in which it predicted an interest rate hike to the end.

Credit rating agency Fitch has reviewed Turkey’s chief analyst Douglas Winslow, said sufficient efforts to strengthen the Turkish currency. Winslow said in a statement to Reuters that declining foreign exchange reserves, double-digit inflation and expected exchange rate pressure “have significantly increased the chances of a policy rate hike by the end of the year.”

Stating that the credit crunch in recent months has been insufficient to reverse the downward trend in lira and foreign currency reserves, the Fitch expert, emphasizing the Central Bank’s limited independence from political pressures, once again, this bank has been slow to respond to external developments and imbalances of very accommodative policy and commented that it exposed the risk of increasing market instability.

Minister Albayrak: We are not dealing with dollars, we can leave them if we want

Treasury and Finance Minister Berat Albayrak said: “We are not dealing with the dollar, despite the huge depreciation of the Turkish lira against the dollar. We can leave it if we want. If you raise the interest, the currency will go down. But that’s not our problem ”he used the expression.

Minister Albayrak: We are not dealing with dollars, we can leave them if we want

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