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Published on:
Thursday, July 12, 2018 – 10:47
| Last update:
Thursday, July 12, 2018 – 10:47
The Turkish lira announced a further 5% decline against the US dollar on Wednesday because of concerns over President Recep Tayyip Erdogan's new government and his latest comments on interest rates
The currency registered a decline that surpassed its record low in May before a special meeting of the central bank in which it decided to raise interest rates.
His step-son Pataa al-Bayraq, the husband of his eldest daughter Israa, the Minister of Finance and Treasury
The sudden decision of "Bairaq" of the Ministry of Energy sparked financial market concerns, which also contradicts the absence of outgoing Deputy Prime Minister Mohammad Shimshik, who was the architect of the government's economic policies.
Erdogan, "The importance of inflationary risks, which exceeded 15% in June for the first time in a decade and a half." Turkish newspapers, including "Hurriyet", quoted "Erdogan": "We will see a decline interest rates "
But economists call for tighter monetary policies
Erdogan has expressed confidence that" al-Bayrak "will" put things on the right track. "
book has so far lost 30% of its value against the dollar this year only.
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