According to analysts at Rabobank, the risk that Turkey could be heading for a full-scale currency crisis, after barely avoiding it only a few months ago when the lira was falling precipitously, has resurfaced after President Erdogan appointed his son in law in charge of a new Ministry of Treasury and Finance replacing the roles previously held by Deputy Prime Minister Simsek and Finance Minister Agbal. Key Quotes “By giving Mr Albayrak such a prominent role at a crucial time for Turkey and ousting market friendly Simsek and Agbal, President Erdogan has reignited market concerns that his administration may implement unorthodox policies, which include lowering inflation by cutting interest rates.” “We may have to abandon our cautiously optimistic view that the lira should be more stable based on the assumption that the Erdogan administration will allow the overheated economy to slow down, will phase out fiscal stimulus and will focus on implementing structural reforms over the next two years or so.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next GBP futures: extra pullbacks likely near term FX Street 3 years According to analysts at Rabobank, the risk that Turkey could be heading for a full-scale currency crisis, after barely avoiding it only a few months ago when the lira was falling precipitously, has resurfaced after President Erdogan appointed his son in law in charge of a new Ministry of Treasury and Finance replacing the roles previously held by Deputy Prime Minister Simsek and Finance Minister Agbal. Key Quotes "By giving Mr Albayrak such a prominent role at a crucial time for Turkey and ousting market friendly Simsek and Agbal, President Erdogan has reignited market concerns that his administration may implement… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
