Turkish FinMin: Tight monetary and fiscal policy key principle of new approach

Below are key quotes, via Reuters, from the presentation delivered by the Turkish finance minister Berat Albayrak.

  • Tight monetary and fiscal policy key principle of new approach.
  • Restoring budget balance and improving its quality key principle of new approach.
  • Securing the full independence of monetary policies.
  • The process Turkey is going through cannot be explained with logic given its macroeconomic indicators.

The USD/TRY was last seen trading at 6.10, up nearly 10% on the day.

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