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Kavcioglu Article on Liraization Provides Little New For Markets

  • Highlights from CBRT governor's article (although little new for markets):
  • Aim of liraization is to gradually increase the weight of TRY-denominated items
  • Stability in exchange rates need to reduce FX-driven price pressures
  • Two main obstacles to permanent price stability are: 1. high level of local currency substitution in household, corporate and bank balance sheets, 2. persistent deficit in the current account balance
  • Full article found here:

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