Turkey rating upgrade positive, investor says

American investor and author Jim Rogers said upgrades in Turkey's credit ratings are very important.

Turkey rating upgrade positive, investor says

World Bulletin/News Desk

American investor and author Jim Rogers has said Turkey's upgrading to an investment grade country by several credit rating agencies was vitally important.

Fitch in November 2012 and Moody's just last week raised Turkey to investment grade. Japan Credit Rating Agency on Thursday raised Turkey by two notches to investment grade.

Rogers, however, added that the investors should not take action without taking other indicators into consideration.

 “Markets could collapse soon"

Defining signs by the US Federal Reserve (FED) to keep on printing money as "a big mistake", Rogers said the global economy was still under risk.

"Money printing is the best known way by the central banks which do not know how to overcome the crisis but at the end no country is immune and we will all pay the price. It will cause higher inflation and interest rates. It will alienate people from money, finding it valueless. If money printing continues, markets might face a serious collapse soon," he said.

“Gold prices will go up"

Rogers predicted sooner or later gold prices will rise to around $1,900, adding, "I still keep all my gold savings, and will purchase more after seeing the signals of rise in prices." 

Last Mod: 25 Mayıs 2013, 10:13
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