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GOLDMAN SACHS: TURKISH ECONOMY IS FLASHING RED

Goldman Sachs’ financial analysts sent a warning note to its clients regarding the Turkish economy. Turkey’s external balances, skewed by a surge in imports and record foreign borrowing by its corporations, are “flashing red” according to financial analysts. Goldman Sachs cited that the country’s interest rates remain too low to rein in the economy’s widening current-account deficit and tame inflation. But with authorities not keen on the weaker growth that would accompany rate hikes, it would take “a degree of market pressure on the currency” for the central bank to move.

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