Turkish Finance Minister Nebati says high interest rates won't be a priority

Joel Frank Independent Analyst

Turkish Finance Minister Nureddin Nebati said on Thursday that high interest rates won't be a priority, according to newswires. Elvan was installed as Finance Minister earlier on Thursday and is seen as a strong supporter of President Recep Erdogan's drive to lower interest rates. Nebati added that he would take steps to achieve a more predictable market and economy.

Market Reaction

The lira hasn't seen any immediate market reaction and USD/TRY continues to trade just to the south of the 13.50 level.

Author

Joel Frank

Independent Analyst

Joel Frank is an economics graduate from the University of Birmingham and has worked as a full-time financial market analyst since 2018, specialising in the coverage of how developments in the global economy impact financial asset

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