Turkish lira in free fall, German Handelsblatt writes

11 April 2018
172 Views

The Turkish Lira is in a free fall due to the central bank’s decision to adhere to the dictates of Turkish Recep Erdogan, German newspaper Handelsblatt claims.

“The price of the Turkish lira is breaking one negative record after another. For the first time in history, today (April 9) the euro is worth more than five liras. The Turkish currency also recorded a new negative record in relation to the US dollar”, the paper writes.

Experts attribute the fall mainly to the high current account deficit and low real interest rates.

Although economic growth has strengthened, the Turkish central bank does not offset the low real interest rate with significant interest rate hikes but is adopting requests from the Turkish President. Pundits warn of the economy “burning out”, as cheap loans outweigh demand and may lead to stagnation or even recession, the German newspaper notes.

You may be interested

Lotto results: Saturday 21 July 2018
GREECE
shares37 views
GREECE
shares37 views

Lotto results: Saturday 21 July 2018

Panos - Jul 21, 2018

The winning numbers from the Lotto draw on Saturday 21 July 2018 are as follows:

The miracle berry that fueled Alexander & his Macedonian Army’s conquests
GREECE
shares40 views
GREECE
shares40 views

The miracle berry that fueled Alexander & his Macedonian Army’s conquests

makis - Jul 20, 2018

Scientists say that a superfood berry was widely consumed by Alexander the Great and his Macedonian army as they set…

14 injured in northern German city after knife attack
WORLD
shares38 views
WORLD
shares38 views

14 injured in northern German city after knife attack

makis - Jul 20, 2018

A man has reportedly used a knife on a bus and injured at least 14 more people injured after a…

Leave a Comment

Your email address will not be published.