Another big week for the lira coming up. It's currently trading just below the previously reached all time lows and I suspect the folks that are in the know reckon the inflation rate may increase for July. If it increases significantly then expect further downgrades by Moodies and Fitch, the latter already predicting 5.5tl to the dollar by the end of 2018.
Some sources do predict a slight fall, 14.4% being one mentioned. I hope if it does, the Central Bank (i.e.the wee fella) doesn't see this as an opportunity to reduce interest rates.
Annoyingly it looks like TDN are suffering from the recent takeover, mostly "positive" stories in the economy section. No mention of the many Turkish companies having to restructure their foreign currency debt or what independent commentators are saying about the economy. All good here, nothing to see, just move on.
JF
