US leniency on S-400 offers Turkey chance to repair economy
The US president's reluctance to impose sanctions following Turkey’s purchase of the Russian S-400 missile system has created a window of opportunity for officials to restructure the nation’s ailing economy.
In his first press conference as the new governor of the Central Bank of the Republic of Turkey, Murat Uysal reduced the nation’s inflation forecast and said he had “considerable” room to implement more interest rate cuts in the coming months.
Uysal was appointed by President Recep Tayyip Erdogan earlier this month after his predecessor was dismissed for resisting aggressive interest rate cuts. During his speech on Wednesday, he echoed comments by Turkey’s Finance Minister Berat Albayrak the previous day that state leaders would seek to implement financial policies to revive Turkey’s long-ailing economy.
