Turkish finance minister Albayrak
- Turkey's institutions will take necessary steps on Monday morning to ease market concerns
Speaking with Hurriyet newspaper (via Reuters headlines)
More:
- Authorities will take necessary measures with Turkish banks and banking watchdog, gives no details
- Says seizing or converting dollar-denominated accounts to liras out of the question
- Says Turkey has drafted action plan for real economy sector, which is the most impacted by forex fluctuations
- Says will offer support via fiscal policies to strengthen the independence of monetary policy
On this: "Says seizing or converting dollar-denominated accounts to liras out of the question"
This is the fin minister directly seeking to calm fears on a key concern. When a finance minister feels compelled to make a public comment on seizing deposits (or saying he will not, in this case), its a clear sign of a dire situation indeed.