Wells Fargo Sees Sharp Lira Rally If Turkish Opposition Triumphs Over Erdogan
- Erdogan exit would bring more orthodox policy, economist says
- Status quo most likely election scenario, according to McKenna
A person counts out Turkish lira banknotes.
Photographer: Erhan Demirtas/BloombergThis article is for subscribers only.
A victory for Turkey’s opposition parties in their bid to unseat President Recep Tayyip Erdogan could trigger big gains for the lira by ushering in more orthodox monetary policy, according to a Wells Fargo & Co. economist.
A bloc of six parties that oppose Erdogan earlier this week named Kemal Kilicdaroglu, a veteran politician and economist, as their candidate to take him on in elections slated for May.