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After another international credit rating agency Moody’s, Fitch in the Central Bank of Turkey (CBT) found the assessment regarding the changes experienced president.
” INFLATION AND EXTERNAL FINANCING INCREASED RISKS ”
In the report written by Fitch directors Erich Arispe, Douglas Winslow, Paul Gamble and Mark Brown, the organization defended the view that “the change in CBRT has increased inflation and external financing risks.” Stating that the latest decision has damaged the credibility of monetary policy and expectations of reducing inflation, the organization noted that a sharp fall in the Turkish lira and uncertainty in policy will bring new pressures on the side of external financing in a global environment where the appetite for risk has diminished.
Emphasizing that the use of instruments other than policy interest by the CBRT will be perceived negatively, the institution stated that they will monitor the depreciation in TL.
THE CHANGE WILL BE CONSIDERED
Emphasizing that the policy direction of the new CBRT chairman and the change in foreign position will be taken into account in assessing the effects of Ağbal’s firing, Fitch said negative rating sensitivities intensified the balance of payments and macroeconomic risks. , as a result of early monetary easing, the merger of international reserves and banking and highlighted that it includes risks in the real sector.
