The central bank of Turkey took new initiative to restore the stability of the economy

Turkey's central bank has announced all necessary initiatives to bring financial stability back to the country. Since the country's inflation has been overwhelming, its financial situation has been in disaster. In this situation, Central Bank has announced the necessary initiatives. Banks will give everything they need to provide to restore the normal status of the market. News Al Jazeera

It is said that compared to the dollar in Asia-Pacific trade, the currency record rate of Turkey has decreased to the lowest level. After the announcement of the central bank, the situation improved slightly, but it was down by seven percent yesterday. The currency has lost more than 45 percent of its value this year.

There have been concerns about the effect of President Recep Tayyip Erdogan on Turkey's economy in the unstable state of the country. Meanwhile, the demand for reducing interest rates in the country's high inflation has raised concerns. In addition, the recent deterioration of the country's relations with the United States has played a significant role in such conditions of inflation.

The central bank has said in their declaration that the Central Bank will closely monitor the depth of the market, the valuation of the prices closely and take all necessary initiatives to maintain financial stability.

Investors are scared that there will be a huge impact on the global market as the lirar quality gap with the euro increases. It has already been observed in South African and Mexican currencies.