Tag Archives: consumer inflation

Turkey’s official Anadolu news agency quoted diplomatic sources as saying that Foreign Minister Hakan Fidan will visit Ukraine on Friday. Turkish officials have repeatedly expressed their desire to mediate between Russia and Ukraine for the return of the grain export agreement through the Black Sea. Russia has imposed a blockade …

Official data showed on Thursday that Turkey’s unemployment rate rose 0.1 percentage point month-on-month to 9.6 percent in June, while the underutilization rate of the labor force, after adjusting for seasonal factors, rose 1.7 percentage points to 24.2 percent. The workforce underutilization rate has decreased significantly since 2021, but has …

Official data showed on Thursday that inflation in Turkey jumped at the highest monthly pace in more than a year in July, due to various tax increases and the sharp depreciation of the lira. Consumer prices rose 9.49 percent month-on-month in July, exceeding expectations in a Reuters poll of 9.1 …

The new President of the Turkish Central Bank, Hafiza Ghaya Erkan, said on Thursday that the bank will tighten monetary policy gradually and will continue to implement selective tightening measures. Speaking during a press conference in Ankara to announce the bank’s quarterly inflation report, Erkan stated that inflation will rise …

The Turkish lira fell more than 2 percent, hitting a new record low against the dollar on Tuesday, amid fears that the Federal Reserve (the US central bank) will raise interest rates this week less than previously expected. The Turkish lira recorded a record low of 26.9 against the dollar, …

Turkish President Recep Tayyip Erdogan agreed on Monday to send Sweden’s request to join NATO to parliament, in a move that appears to end months of debate over the issue that has affected the military alliance while the war in Ukraine drags on. Sweden and Finland applied for NATO membership …

Turkey’s annual inflation slowed for the seventh month in a row, reaching 38.2% against expectations of 39.47%. In June, inflation recorded 39.5%, after a slowdown from record levels in October 2022, which reached 85.5%. On Thursday, June 22, Turkey’s central bank raised the country’s main interest rate, nearly doubling it …

Turkey’s central bank raised its base interest rate by 650 basis points to 15 percent on Thursday, reversing President Recep Tayyip Erdogan’s policy of cutting interest rates, but the move towards post-election tightening still fell short of expectations. In its first meeting after the appointment of Hafiza Ghaya Arkan as …

The Turkish lira fell to a new record low on Monday as investors awaited clues about monetary policy moves after the appointment of a new central bank chief who is expected to raise interest rates. The lira fell 1.3 percent at 23.65 against the dollar at 0834 GMT, after hitting …

The Turkish Central Bank said Monday, June 12, that the country’s current account deficit rose to $5.404 billion in April, which exceeds Reuters expectations, which predicted the deficit would reach $4.5 billion. In March, the Turkish current account deficit recorded 4.903 billion dollars. As for the entire year 2022, the …