Morning Note /
Global

Turkey: The looming dangers of a big jump in inflation

  • Even on a good day for all EMFX, Lira lost 3.5% as President Erdogan reiterated his stance on low interest rates

  • If TL weakens, go for the exporters or other FX linked businesses worked well while the banks continued to be weaker

  • With such deterioration in the macro picture, it is not surprising for the banks to underperform

Batuhan Ozsahin
ATA Invest
30 November 2021
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