Erdogan calls for Turkish national mobilisation to defend lira
Canada Goose Parka ANKARA/ISTANBUL, Jan 12 (Reuters) President Tayyip Erdogan accused Turkey cheap canada goose uk enemies on Thursday of using currency speculation to try to topple the state and urged the central bank to these games saying it had all the tools it needed after the lira plunged to record https://www.canadagooseoutletstore.co.uk lows. Canada Goose Parka
canadian goose jacket Erdogan repeated his call to Canada Goose Coats On Sale Turks to sell foreign currency, urging a of national mobilisation against speculators. He canada goose black friday sale evoked last July military coup attempt, when people took to the streets to block tanks, and said anybody who helped the nation achieve its targets would Canada Goose online be a hero. canadian goose jacket
Canada Goose Outlet is no difference in terms of goals between the terrorist with a canada goose clearance gun in his hand and a terrorist with dollars and uk canada goose euros in his hands, Erdogan said in a speech canada goose uk black friday to local administrators at the canadian goose jacket presidential palace in Ankara. Canada Goose Outlet
canada goose deals goal is to topple Turkey, to make it kneel and stray uk canada goose outlet from canada goose its goals. They are using the foreign exchange rate as a weapon, he said. course, we have some problems, but cheap Canada Goose none of these canada goose clearance sale explain the exchange rate in our country. canada goose deals
Canada Goose online It has also lost almost a quarter of its value in the six months since the failed coup attempt. Canada Goose online
Economists say the central bank needs Canada Goose Outlet to raise interest rates sharply to prevent further weakening. But the bank is reluctant to make such an outright move, with Erdogan and the government pre occupied by slowing economic growth and eager for lower borrowing costs to spur investment.
buy canada goose jacket cheap clear that the speculation on the forex rate has no depth. Our central bank and other banks must thwart buy canada goose jacket cheap these games. The central bank has the necessary tools and ability to take measures on this, Erdogan said. buy canada goose jacket cheap
He also took aim at commercial lenders. should not be Canada Goose Online involved in other calculations when the survival of the entire nation is on the line. I am also calling to the business world, it is time to invest and create jobs.
canada goose black friday sale Erdogan, his aides, and some ministers have repeatedly cast the lira decline as part of a conspiracy canada goose factory sale against Turkey by Canada Goose Parka outside powers, drawing parallels with bombings by canada goose uk shop Islamic State and Kurdish militants and the coup attempt. canada goose black friday sale
Canada Goose sale Pro government newspaper Yeni Safak said German banks in collaboration with the German secret service were to blame for the speculation against the lira, publishing the headline Bank operation Canada Goose sale on its front page. Canada Goose sale
TEMPORARY RESPITE The central bank took steps to tighten lira liquidity on Thursday by encouraging lenders to borrow at a higher rate, canada goose store taking some pressure off the lira.
canada goose coats It did buy canada goose jacket not open its regular one week repo auction, through which it usually funds the market at 8 percent, leaving banks to resort to its overnight lending rate of 8.5 percent interest or its late liquidity canada goose coats window at 10 percent. canada goose coats
canada goose taking liquidity measures, the central bank is attempting to raise rates without directly raising the official rates, said HSBC Asset Management strategist Ibrahim Aksoy. canada goose
cheap Canada Goose The lira firmed to 3.7897 to the dollar by 1400 GMT, after weakening as much as 1.5 percent to 3.9290 in early trade. It hit a record low of 3.9417 on Wednesday. cheap Canada Goose
canada goose clearance sale But it was helped by a weaker dollar. currency nursed widespread losses on Thursday after President elect Donald Trump said little about his future fiscal policies at a Canada Goose Jackets long awaited news canada goose jackets conference. canada goose clearance sale
canada goose coats on sale lira may enjoy some very short term respite and take a breather because of general market conditions and this attempt by the central bank to tighten some of the short term monetary conditions, said Cristian Maggio, head of emerging markets strategy at TD Securities. canada goose coats on sale
buy canada goose jacket none of that is structural and long term, and the lira will remain skewed to extreme weakness until the central bank decides to hike in large scale on interest rates. buy canada goose jacket
canada goose clearance The economy contracted for the first time in seven years in the third quarter and growth is forecast at 3.2 percent for last year, a far cry from the high single digit rates on which Erdogan built his reputation as prime minister from 2003 14. canada goose clearance
Canada Goose Jackets He is keen to prevent the economy losing too much momentum as the country prepares for an expected referendum in the spring on constitutional changes that would create a full presidential system and hand him greater powers. Canada Goose Jackets
canada goose store At its last rate setting meeting in December, the central bank defied expectations of an increase and left rates on hold. It will meet again to set rates on Jan. 24, with canada goose coats on sale many economists saying it need to make a sharp increase. canada goose store
run on the lira is a glass half empty stance. Even with occasional delays, central bank has acted in the past. It should and will act again, he said, adding that the dust would settle on the lira rout and that the fundamentals of the Turkish economy canada goose uk outlet were what ultimately mattered. (Additional reporting by Tuvan Gumrucku and Orhan Coskun in Ankara, Daren Butler in Istanbul, Karin Strohecker in London; Writing by Nick Tattersall; editing by David Stamp).