in the light of new monetary turmoil has made the Turkish President Recep Tayyip Erdogan just before local elections in the West in the pillory. The United States and other Western States tried to lure the country through attacks on the exchange rate in a trap, he said on Thursday in front of young voters in Ankara. The banks were the the election game with the currency. What are the money houses, he said, he left it open. The Turkey had to teach the “speculators in the markets discipline.” At the same time, he renewed his claim to the Central Bank, that Inflation must be countered by interest rate cuts.
After the currency turmoil of the past year, the Lira was last again under the wheels come. Traders spoke of the fear that the diplomatic tensions between Turkey and the USA increase again and the Turkish economy is negatively affected.
experts warn of capital controls
On Thursday, investors retreated once again fleeing from the Turkish currency. As a result, the rate of the Dollar rose by up to 5.3 percent to a Two-month High of 5,6110 Lira. The same was true for the Euro, which rose to 6,3235 Lira. Turkish bonds flew from the Depots. Stockbrokers, according to the Turkish banks had borrowed foreign investors, not a Lira more, to make more bets on a decline in the currency. The head of the banking Association rejected this, however. Some experts see the current development as a possible prelude to the introduction of capital controls.
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Sunday’s municipal elections in Turkey. In the process, Erdogan’s AKP is looming in the capital, Ankara, the loss of power in Istanbul is a scarce output is expected. Erdogan has stylized the result of the vote in a real election marathon of up to five performances per day, to a “question of Survival”. (Reuters)
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