On March 19, Jinshi Data reported that Taborowski from ING stated that after the arrest of Turkish President Erdogan's main competitor, the Turkish lira is facing further decline. Taborowski indicated that the lira is the currency with the most interest rate trading positions among emerging markets, and significant fluctuations may lead to further capital outflows. However, "we should see local banks providing some forex support." Erdogan has long held an unorthodox view that high interest rates exacerbate inflation.
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Analyst: The Turkish lira faces further fall risks.
On March 19, Jinshi Data reported that Taborowski from ING stated that after the arrest of Turkish President Erdogan's main competitor, the Turkish lira is facing further decline. Taborowski indicated that the lira is the currency with the most interest rate trading positions among emerging markets, and significant fluctuations may lead to further capital outflows. However, "we should see local banks providing some forex support." Erdogan has long held an unorthodox view that high interest rates exacerbate inflation.