Turkey’s ministers are not surprised by Fed decision

Published 20.09.2013 17:27
Updated 20.09.2013 17:46

The U.S. Federal Reserve’s decision to sustain its monetary stimulus has resulted in a doping effect for emerging markets. Turkey’s Ministers say, “The decision worked to Turkey’s favor, we are not surprised.

The U.S. Federal Reserve's decision to sustain its monetary stimulus and to continue buying bonds to keep interest rates down, which was announced on Wednesday by Fed Chairman Ben Bernanke has worked to Turkey's favor and aroused widespread speculation amongst the nation's economic circles. Politicians, academics and NGO's are all saying the decision should not have come as a surprise.

Economy Minister Zafer Çağlayan: "I am surprised by those who are surprised with the Fed's decision. This is being assessed as if it is a big surprise. Whereas sooner or later, the Fed will say, 'I am going to retract the money I put out on the market.' Maybe not today, but it could be tomorrow."

Minister of Customs and Trade Hayati Yazıcı: "Due to Turkey's investment environment, the country will continue to be a safe harbor."

Energy Minister Taner Yıldız: The Energy Minister says that the drop in the exchange rate of the U.S. dollar has been a positive development in terms of energy costs and stated that the exchange rate for the dollar should be between 1.88-1.92 liras.

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