Tag Archives: Turkey

Data from the Turkish Ministry of Health, Wednesday, April 21, showed that 362 new deaths were recorded with Covid-19 during the past 24 hours, in the largest daily toll since the outbreak of the pandemic in the country, bringing the total number of deaths to 36,975 deaths. The data showed …

The Turkish Central Bank banned the use of cryptocurrencies assets in the purchase of goods and services, pointing to potential “irreparable” damages and great risks in those transactions. In the legislation published in the Official Gazette early Friday, the Turkish central bank said that cryptocurrencies and other digital assets based …

Goldman Sachs expects that the Turkish central bank might move to cut its key rate during the fourth quarter of the year. The Central Bank of Turkey decided to maintain interest rates unchanged on Thursday in the first Monetary Policy Committee (MPC) meeting under the new leadership, in a move …

The Turkish lira declined against the US dollar after an earlier rise, following the central bank’s decision to keep the interest rate unchanged at 19%. The currency fell to 8.1250 after the decision, which was preceded by its initial rise to 8.005 against the US currency. It had closed at …

The Central Bank of the Republic of Turkey (CBRT) announced on Thursday that it left its policy (one-week repo) rate unchanged at 19% as expected. In its policy statement, the central bank refrained from repeating last month’s pledge to “decisively” maintain a tight policy.

Data showed that industrial production rose 8.8% on an annual basis in February, which is in line with expectations and indicates its growth for the ninth month in a row after it was affected last year as a result of measures to contain the Coronavirus pandemic. The Turkish Statistics Institute …

The Turkish lira lost about 13% of its value within two weeks due to the dismissal of the Turkish President, Recep Tayyip Erdogan, to the former central bank governor, Naji Iqbal, after the latter raised the interest to 19%, with the aim of tightening monetary policy, controlling inflation rates, and …

Turkey’s annual inflation rose to more than 16% in March for the first time since mid-2019, according to Monday’s data, which means pressure builds on new central bank governor Şahap Kavcıoğlu to maintain a hawkish policy after his surprise appointment. Consumer prices rose 16.19% year-on-year, higher than 16.11% in a …

Turkey’s Auto Distributors Association said sales of passenger cars and light commercial vehicles in the country rose 92.8% year on year in March to 96,428 units. The association added that from January to March, sales increased 59.7% year on year. Errol Shaheen, director at EBS auto marketing consultancy, said the …

The Turkish lira rose more than 1% against the dollar on Friday, supported by a drop in US bond yields, a day after the new central bank governor pledged that tight monetary policy would remain as it was. The pound rose to 7.9890 against the dollar, from 8.1 at the …