Turkey Just Rolled Out Another Desperate-Sounding ‘Fix’ Ahead Of Istanbul Rerun

Turkey Just Rolled Out Another Desperate-Sounding ‘Fix’ Ahead Of Istanbul Rerun

Well, Turkey is becoming increasingly desperate to maintain financial stability ahead of the Istanbul rerun and on the heels of another Moody's downgrade. On Monday, CBT rolled out a new liquidity facility which lenders can tap at 100bp below the benchmark rate in proportion to the amount of government debt primary dealers snapped up at Treasury auctions. That's obviously aimed at ensuring demand doesn't dry up. Turkish stocks fell into a bear late last month and this latest effort to support
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One thought on “Turkey Just Rolled Out Another Desperate-Sounding ‘Fix’ Ahead Of Istanbul Rerun

  1. Turkey has apparently found a new way to insure that it gets good coverage in the financial press. Two Bloomberg financial reporters have been indicted for writing articles in August 2018 about the decline in the lira and the response by Turkish authorities. (So I’m hoping TheRealHeisenberberg isn’t planning any vacations in Istanbul this year). And, for the rest of us, I also note that they are also indicting 36 people who made comments on social media. (I’m glad I visited this beautiful nation several years ago). Here is a link to the Reuters story: https://www.reuters.com/article/us-turkey-economy-court/turkey-seeks-jail-terms-for-two-bloomberg-reporters-idUSKCN1TF1CG

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