(MENAFN) After Fitch's statement, Turkey's currency was announced to have hit a new record low of, falling to 4.66 against the dollar.
The credit rating agency said "comments from the Turkish president raise the possibility that discretionary policymaking and policy predictability will come under pressure after June's elections."
The statement also said "greater erosion of monetary policy independence would put further pressure on Turkey's sovereign credit profile, particularly if it contributed to serious external financing stresses and a deterioration in the macroeconomic environment, or undermined wider economic policymaking credibility and the country's business environment."
The Turkish lira has hit bottom to 4.6608 after the statement, then to 4.63, with it being traded at 5.49 against the euro and 6.25 against the sterling.
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