Economics
‘God Help Turkey,’ Says Brokerage as Lira Goes Into Meltdown
- Central bank is watching when it needs to lead, Alnus says
- Lira drops to a new low on Monday, losses seen continuing
Erdogan on Monetary Policy, Parliamentary Elections
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With Turkey’s central bank sitting on the sidelines observing a currency meltdown and double-digit inflation, one brokerage is looking for help from a higher power.
“God help Turkey,” Istanbul-based broker Alnus Yatirim said in the sign-off to its morning note to clients on Monday. “We’re faced with a central bank that is watching the market when it needs to lead and direct it.”