Tag Archives: inflationary pressures

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 …

The Turkish lira plunged 7 percent on Wednesday to a new record high amid the biggest sell-off in the currency since its historic collapse in 2021, as the new Turkish government appeared to ease stabilization measures after hinting at a shift to more traditional policies. The lira has been under …

The Turkish lira lost 1 percent of its value against the dollar on Tuesday, continuing the declines it recorded during the last period, amid expectations that the state will end its control over the currency after the appointment of Mehmet Simsek as Minister of Finance. Investors are anticipating a shift …

Turkey’s annual inflation fell to 39.59 percent in May, official data showed on Monday, largely in line with expectations for the month of elections that re-elected President Tayyip Erdogan. Consumer prices in May rose 0.04 percent from the previous month, compared to expectations for a 0.2 percent decline in a …

Official data showed on Wednesday that the Turkish economy grew by 4 percent in the first quarter of this year, slightly exceeding expectations. The growth came despite the repercussions of the devastating earthquakes that hit the south of the country in February. Data from the Turkish Statistical Institute showed that …

The Turkish lira fell more than 1 percent to a new record low on Tuesday, while President Recep Tayyip Erdogan was choosing who would run economic policies in his government after winning Sunday’s re-election. The lira recorded an all-time low of 20.34 against the dollar, down from the closing level …

The Turkish lira fell to a new record low of 20.2 against the dollar on Tuesday, extending losses incurred since President Recep Tayyip Erdogan’s victory in Sunday’s presidential run-off. The lira fell 0.5 percent from the closing level it recorded on Monday at 20.0990 pounds per dollar, which was its …