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Turkish Central Bank's Deputy Governor Warns Mideast Crisis Could Hit Economic Fundamentals - Turkish Minute
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Turkish central bank's deputy governor warns Mideast crisis could hit economic fundamentals - Turkish Minute
The deputy governor of Turkey’s central bank warned Monday that the economic fallout from the war in the Middle East could go beyond market swings and begin to damage the country’s economic fundamentals, in one of the bank’s starkest public assessments yet of the risks posed by the regional crisis.
The Central Bank of the Republic of Turkey sold and exchanged 60 tons of gold in two weeks following the Iran-Turkey conflict. Governor Fatih Karahan stated that using gold transactions is natural during periods when foreign exchange liquidity is needed.
Turkish Central Bank (TCMB) Governor Fatih Karahan commented on the impact of the US/Israeli attacks on Iran in the Gulf region on the Turkish economy and markets, and the measures taken. Karahan stated that using gold-based transactions to minimize the economic impact of the conflicts is a perfectly natural choice, adding, "A significant portion of these transactions are in the nature of forward gold-foreign currency swaps, meaning that when th…
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