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Nebati Dismisses Speculation of Higher Interest Rates; Election TRY Slump Not Expected

TURKEY

Finance Minister Nureddin Nebati spoke in an interview to NTV. Here are some selected highlights (via BBG):

  • Inflation deceleration is no longer due to base effects.
  • No 'rally' seen in exchange rate due to vote, rumours of an impending lira slump are speculative.
  • Recent measures on exchange rate are 'temporary'.
  • Dreams of higher Turkey interest rate won't be realised, could cause ‘traumas’.
  • Exit from FX-linked deposits may not happen this year.

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