properties in turkey for sale

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properties in turkey for sale



The central bank has signaled it will maintain a hawkish stance until the pace of price growth slows, but investors are worried that government policies could stoke an inflation rate running at four times the official target. Before Sunday’s vote, state lenders were already under pressure to invest in turkey, while a series of tax cuts designed to boost consumer demand have put a hole in the budget.

After the central bank’s decision to buy house in turkey in September initially anchored the lira with the highest carry-trade returns in emerging markets, the currency has weakened more than 7 percent over the past three months, the most among peers after the Argentine peso.

Dollar Demand

Persistent demand for hard currency from local investors has increased the weakness as they sought protection from inflation and a hedge against any turbulence following the elections. Households and companies have added around $28 billion to their foreign-currency deposits over the past six months, taking the total to a record.

Data earlier this month showed the central bank’s net reserves dropped unexpectedly in March, adding to speculation that it was using the cash to support the currency. JPMorgan Chase & Co. said the drawdown was unsustainable and recommended investors sell the lira.