Reserve drain and inflation risks – Commerzbank
Commerzbank’s Tatha Ghose flags a sharp March deterioration in Turkey’s balance of payments, with a near-doubling of the current-account deficit, heavy capital outflows and a record drop in official reserves. The bank argues underlying vulnerabilities predated the Iran conflict. With inflation seen accelerating and no further Central Bank of the Republic of Türkiye (CBRT) tightening, Commerzbank forecasts USD/TRY at…











