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FINANCIAL TIMES: TURKISH ECONOMY IS OVERHEATING

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British daily newspaper Financial Times wrote that the Turkish lira hit a new low on concerns that the economy was overheating. Financial Times wrote that “President Recep Tayyip Erdogan fuelled fears that he would keep chasing high growth despite the Turkish lira hitting a new low on concerns that the economy was overheating.” The article also reminds that the Lira has lost 6.5 percent of its value against the dollar this year. On the other hand, JP Morgan analysed TL on its latest report. The nation needs a “sizable” foreign-exchange adjustment and credible policy response, which may not be “imminent,” the bank said in a note released. The report also states that TL may drop to 4,22 dollars and 5,26 euro.
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