Torrid times for the Turkish lira still 27 Jan

Newspaper Sabah has cited comments by President Erdogan earlier:

  • raising interest rates would have a negative impact on both lira and inflation
  • favours the maintenance of "just the policy rate"

USDTRY on the rise again but let's see if the central bank have any interest to step in again.

Fitch today are expected to publish their sovereign rating review and one can't see it being too favourable.