Turkish President Recep Tayyip Erdogan has defended his central bank's continued loosening of monetary policy, an approach he has pushed for in a bid to "lift this scourge of interest rates from people's backs."
But he suggested that investing in Turkish assets at present carries too many unknowns, even over a longer time period. But in a research note Tuesday, Goldman Sachs highlighted that the "causes of the current sell-off differ from the past." "We therefore think the sell-off has been driven mostly by the impact of rate cuts on local expectations and the demand for TRY."
They’re jointing with china 🇨🇳 and Iran 🇮🇷 who cares about rest of 200 countries 😆
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