CBRT Gov: Banking Sector is 'very Strong', MHP Says TRY Crisis 'Economic Sabotage'

LOCAL NEWS

• CBRT Governor met with banking CEOs yesterday, noting that Turkey's banking sector was "very strong" and they held a good meeting. Discussion centred on inflation, monetary policy and global developments
• MHP Leader Bahceli says Turkey's economic crisis is currency sabotage, accusing the main opposition of supporting terrorism over its criticism of government policies.
  • "Turkey will not bow down to the interest rate lobby. They will not succeed with what they could not do with the coup attempt." Analyst says this is a common approach to use terrorism accusations to boost nationalist sentiment
• Turkey National security council says it is focused on economic goals as it implements its policy based on investment, production, employment and exports and has assessed threats to its implementation.
  • The NSC also stressed the need for peace in the region, calling out Greece for its actions in the East Med
• Deputy FinMin Overnight comments: "new policy based on low rates, high growth. Rates should be cut against supply-side inflation. Manipulative attacks won't seriously hurt the lira. Turkey determined to implement low rates policy.