Goldman Sachs Warns Turkey’s $30 Billion Reserve Loss Could Deepen - Turkish Minute
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Goldman Sachs warns Turkey’s $30 billion reserve loss could deepen - Turkish Minute
Turkey risks further losses in its central bank reserves after a $30 billion decline over the past 12 months, adjusted for valuation changes, US investment bank Goldman Sachs warned, CNBC-e reported on Friday. Interest rate cuts and risks surrounding elections could cause further losses, threatening the country’s economic program, according to an assessment by the […]
Goldman Sachs, evaluating the central bank's interest rate cut, drew attention to the risk of reserve loss in the economic program. Stating that reserves, adjusted for valuation effects, have decreased by $30 billion in the last 12 months, the bank warned that interest rate cuts and election-related developments could lead to further losses.
Goldman Sachs, in its assessment of the Turkish Central Bank's (TCMB) interest rate cut, drew attention to the risk of reserve loss in terms of the economic program. The bank stated that reserves, adjusted for valuation effects, have decreased by $30 billion in the last 12 months, and warned that interest rate cuts and election-related developments could lead to further losses.
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