国产成人午夜高潮毛片|国产午夜精品一区二区在线观看|久久zyz资源站无码中文动漫|在线观看国产成人av天堂|成人精品一区日本无码网

Spotlight: Turkish currency hits new low as fears grow over economic outlook

Source: Xinhua| 2018-05-23 23:40:42|Editor: yan
Video PlayerClose

ANKARA, May 23 (Xinhua) -- Turkey's currency lira has fallen to an all-time low against the U.S. dollar amid fears of economic instability as the country heads toward crucial elections next month.

The lira dropped to over 4.91 against U.S. dollar on Wednesday morning, down about 6 percent since Tuesday, before recovering some of its losses in the day, but still very prone to fluctuation.

The Turkish Central Bank is under pressure to hold an emergency meeting to sharply increase rates before a scheduled monetary policy meeting on June 7, but is seems to be unlikely as the government wants the rates to remain low.

Higher rates can support a currency and ease inflation, but could also hinder economic growth by making borrowing more expensive. The lira has lost more than 20 percent of its value against the dollar since the beginning of this year.

"The central bank has to act fast, there is a perception amongst investors and the public... that the government is leaving things to their own and is reluctant to intervene," said economic analyst Enver Erkan.

But he also argued that the currency depreciation will seriously affect businesses who deal with foreign exchange tools and will impact the economy as a whole.

"It will rule Turkey after the elections...This is not something that would be resolved in a matter of days," he pointed out.

Top economic officials met on Monday to discuss measures against the currency crisis. The meeting was attended by Deputy Prime Minister Mehmet Simsek and Central Bank Governor Murat Cetinkaya, fueling speculation that the emerging market's authorities may take drastic measures such as a serious hike in interest rates.

Official data also showed recently that the inflation climbed to almost 11 percent in April, stoked by the lira's fall against the U.S. dollar.

"There is an unhealthy situation in prices. I am confident that the right measure will be taken at right time," Turkish Economy Minister Nihat Zeybekci told reporters.

The continued depreciation of the Turkish currency would increase the chances of an emergency and substantial rate hike, said William Jackson, an emerging-market economist at Capital Economics, an economic research company.

"We expect the monetary policy committee to hold an interim meeting over the coming days to raise interest rate by at least 200 basis points. If policymakers refrain from tightening monetary policy, the risk of a disorderly adjustment and a sharp economic downturn (possibly recession) will mount," he said.

Turkey's central bank raised the key rate by 75 basis points last month, and has taken actions to boost lenders' access to dollar liquidity, but the measures have proved insufficient to support the currency.

A similar measure was taken Wednesday morning by the Istanbul Stock Exchange which decided to convert all foreign exchange asset needs to lira "in order to fight speculative actions aimed at creating negative image of Turkey before the elections."

Opinion polls showed that Turkish President Recep Tayyip Erdogan is the frontrunner of the presidential race due on June 24. During a recent visit to London, he said he planned to have a greater say in monetary policy if he wins the elections, which caused a further plunge of his country's currency amid fears that the independence of the central bank could be affected.

"Interest rates are the mother and father of all evil," said Erdogan, mentioning also a "foreign conspiracy" to harm Turkey's economy ahead of elections.

"Comments from the Turkish president raise the possibility that discretionary policymaking and policy predictability will come under pressure after June's elections," the credit rating agency Fitch said in a statement on Tuesday.

Following the statement from Fitch, the lira on Tuesday declined to a fresh historic low of 4.66 against the dollar before bouncing back to 4.63.

A botched coup in 2016 in Turkey was followed by a state of emergency which is still effective. The side effects of the war in neighboring Syria are also to blame for adversely impacting the Turkish economy.

Despite posting an impressive 7.4-percent growth in 2017, the highest in G20 member countries, Turkey's economy has started showing signs of overheating, according to specialists.

In addition to the plummeting currency as well as high inflation and unemployment, one of the weakest points of the Turkish economy is the current account deficit and external debt.

Ahead of the elections, Ankara has announced a controversial package of incentives and a tax amnesty, increasing fears about overspending.

TOP STORIES
EDITOR’S CHOICE
MOST VIEWED
EXPLORE XINHUANET
010020070750000000000000011105521372012441
主站蜘蛛池模板: 亚洲人成绝费网站色www| 熟女乱一区二区| 国产在线高清理伦片a| 国产明星换脸一区二区| 国产精品自在线拍国产| 伊人精品久久久久中文字幕| 久久不见久久见免费影院www日本 国产一区二区三区免费在线视频 91一区二区三区免费观看 | 一区二区三区四区欧美在线 | 亚洲精品自偷自拍无码| 亚洲中文字幕无码不卡电影| 亚洲一区二区三区四区影院| 四虎影视精品永久在线观看| 人妻精品一区内射| 又黄又爽又色视频| 亚洲精品无码久久久久牙蜜区| 国产一区二区黄| 国产精品老熟女视频一区二区| 国产精品乱码高清在线观看| 色屁屁一区二区三区视频国产| 黄页网站视频免费大全| 中文字幕精品久久久久人妻红杏1| 成人h无码动漫超w网站| 成人区精品一区二区不卡| 人妻熟女一区二区aⅴ视频| 国产成人精品免费视频大| 中文字幕一区二区三区精彩视频| 图片区小说区av区| 日韩人妻无码精品免费shipin| 久久久无码一区二区三区| 色婷婷综合久久久中文字幕| 欧美日韩一区人妻| 国产日产精品一区二区| 亚洲瑟瑟影院成人一区 | 久久av青久久久av三区三区| 国产激情久久久久影院小草| 日本熟日本熟妇中文在线观看 | 毛片免费全部无码播放| 毛片24种姿势无遮无拦| 加勒比av一区二区三区四区| 毛茸茸厕所偷窥xxxx| av成熟一区二区三区|