The optimism comes despite a report by ratings agency ‘Fitch’ last week, in which it said Turkey’s inconclusive presidential election results have prolonged the uncertainty hanging over Turkey’s economy, which is suffering from the collapse of the lira exchange rate. , rising inflation and high unemployment rates.
She said Turkey, with a run-off in presidential elections, is witnessing an escalation of macroeconomic and external pressures on the economy.
A confidence level below 100 points indicates a pessimistic outlook, while a reading above 100 indicates optimism.
Turkey’s central bank has rolled back restrictions aimed at curbing demand for silver and gold, after facing a backlash from citizens ahead of the second round of presidential elections on May 28.
The Central Bank had imposed the restrictions last week, to defend the lira, which suffered declines of just over 1%, after presidential elections headed to a second round, but it retracted them on Friday.
These restrictions prompted Turkish banks to reduce lending to individuals and postpone decisions to lend to businesses. Some banks have also raised the interest rate for monthly mortgage loans above 3% and the interest rate for car loans has reached 4%.
Bankers added that monthly interest rates for personal loans over 70,000 pounds ($3,590) have been close to 5% since the imposition of the new regulations, which were rolled back.
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