Turkish markets are 'on the verge of a renaissance moment,' Citi says
Publishing timestamp: 2024-05-24 09:13:14
Summary
Turkey's economy has been struggling with high inflation and a depreciating currency, but new economic and central bank appointments are working to reverse the country's fortunes. Citi's latest report suggests that investors may want to consider returning to Turkish assets, as the government is focused on policy normalization and attracting capital inflows. While inflation remains high, there are expectations for a decrease in the second half of the year, with no rate cuts expected until 2025. Despite positive improvements, Turkey's credit rating is still constrained by institutional and political risks.
Sentiment: MIXED
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Keywords: breaking news: markets, citi trends inc, markets, prices, breaking news: economy, forex markets, economy, currency markets, inflation, central banking, interest rates, turkey, business news, recep tayyip erdogan, emerging markets,