Turkish FinMin: Tight monetary and fiscal policy key principle of new approach

Below are key quotes, via Reuters, from the presentation delivered by the Turkish finance minister Berat Albayrak.

• Tight monetary and fiscal policy key principle of new approach.
• Restoring budget balance and improving its quality key principle of new approach.
• Securing the full independence of monetary policies.
• The process Turkey is going through cannot be explained with logic given its macroeconomic indicators.

The USD/TRY was last seen trading at 6.10, up nearly 10% on the day.