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After the sudden Turkish central bank upheaval last week, Moody’s Investors Service offered its credit review of the embattled country’s banking sector.

  • USD/TRY:  Difficult for  Turkey  to avoid another currency crisis – Societe Generale

Key quotes

“Turkish central bank governor removal credit negative for the country’s banks’ funding.”

“Without central bank credibility Turkish banks’ market access likely costlier, limited to short-term syndications.”