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With the removal of central bank governor Murat Uysal and the appointment of Naci Ağbal in place of the resignation of Berat Albayrak and the appointment of the Minister of Treasury and Finance, Lütfi Elvan, and the rhetoric of economic and legal reform by President Recep Tayyip Erdoğan, the markets have experienced a springtime atmosphere for a while. .
While the Turkish lira gains nearly 10 percent against the dollar, Borsa Istanbul breaks record after record. The expectation that the Central Bank will raise interest rates at the Monetary Policy Committee meeting to be held tomorrow has a great effect on the formation of this climate.
While all eyes were on the Central Bank’s decision, the statements made today by President Recep Tayyip Erdogan caused fluctuations in the markets.
Turkey’s HMC President TOBB Economics and AKP Leader Recep Tayyip Erdogan gave messages of interest. Following Erdogan’s remarks, the Turkish lira depreciated 1 percent against the dollar, while the exchange rate rose above 7.77. Bank stocks fluctuated sharply on the stock market.
HIGH INTEREST MESSAGE
– It’s obvious what the high interest costs are. Can we produce with great interest? It’s not possible. We shouldn’t crush our high-interest investors. In all the decisions we make, we benefit from the common mind that we have established with you in all the steps we take. Our 365 chambers and stock exchanges served as the engine of democracy and development, in which we have come a long way in the last 18 years.
– When I talk to many of our entrepreneurs, they say: “It piqued my interest.” Hopefully, we will also reverse them. We will continue to walk towards our goals overcoming the obstacles we face. We have implemented many support packages, especially from cash flow to incentives.
WE WILL COMMUNICATE WITH HUNGER
– Now we have a new era ahead. Now we must focus much more on production, investment, employment and exports.
– Now we are in a period in which not even the team is enough, it is necessary to change vehicles and we are determined to do whatever it takes to achieve it. Here are the preparations for the legal and economic reforms of this new era. Our goal is to reach single digit inflation figures as soon as possible. Our country is entering a period of uproar. We will continue to provide the most suitable conditions for national and foreign investors.
-I hope that next year we will remember all these difficulties with a bitter smile.
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