Turkish Finance Minister Nureddin Nebati said on Thursday that high interest rates won't be a priority, according to newswires. Elvan was installed as Finance Minister earlier on Thursday and is seen as a strong supporter of President Recep Erdogan's drive to lower interest rates. Nebati added that he would take steps to achieve a more predictable market and economy.

Market Reaction

The lira hasn't seen any immediate market reaction and USD/TRY continues to trade just to the south of the 13.50 level.