International credit rating agency Moody's announced that the change in Türkiye's economic policy is clearly positive for its credit rating.
"This change is obviously credit positive. But there are still significant uncertainties," Moody's analyst Dietmar Hornung said.
"The moves we have seen since the election are encouraging but the challenges ahead are complex," he added.
Hornung stressed that reducing inflation, which is expected to rise to 65 percent this year, and addressing other "accumulated imbalances" was a formidable task.
"Our rating outlook is stable, we do not see a significant downside risk, but it will take time to see the positive effects of the changes. This is a marathon, not a sprint. We need a more orthodox policy track record and a reduction of accumulated imbalances," Hornung emphasized.
Moody's will not formally review Türkiye's credit rating until December, but Fitch will review its rating on Friday, followed by S&P Global later in the month.