ASI: Turkse renteverhoging kent ook risico's


ASI: Turkse renteverhoging kent ook risico's

Hieronder een korte reactie van Brett Diment, hoofd Emerging Markets bij Aberdeen Standard Investments op de Turkse renteverhoging:

“It is pleasing to see common sense prevail. The changes that the authorities have already made and the sell-off in the lira mean that the Turkish economy has actually already started to cool. After all, creating an environment where banks are charging 30% interest rates will tend to have a cooling effect on an economy. So, from a strictly economic perspective, you could argue that the need to raise rates has diminished somewhat and the risk now is that they overshoot and end up tightening too much. But hiking today does get Turkey on the slow road to recovering some monetary policy credibility, and that is critical. If they hadn’t hiked today then the real risk was that the lira would sell-off sharply again and the country would swiftly head towards a balance of payments and even banking crisis.”

 

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