Turkish president Erdogan comments via Anadolu Agency
- Attack on economy is also no different from attack on our call to prayer
- The aim of the attack is to bring Turkey and its people to their knees
- But Turkey has the power and ability overcome all of this
- Those who think they can make Turkey give up through exchange rate will soon see they are mistaken
Once again Erdogan continues to tout a strong rhetoric with little supportive action to show for it. The only real supportive measure so far has been stealth rate hikes by CBRT as pointed out here last week.
Turkish markets may be interrupted this week due to a week-long holiday but it is not stopping the lira from falling further. The currency is down almost 2% against the dollar on the day currently:
