Tag Archives: Turkey

Central Bank Deputy Governor Murat Çetinkaya was removed from his post, according to a presidential decree published in the Official Gazette today, Tuesday. The decree said that Mustafa Duman had been appointed as deputy governor of the central bank. The decree did not provide further details on the reason for …

The Turkish lira lost more than 1% of its value on Monday, March 29, continuing its sharp decline since President Recep Tayyip Erdogan changed the central bank governor this month, leading to expectations of a loose monetary policy. The lira was at 8.14 per dollar, down from 8.0775 at the …

The Turkish lira fell to 8.09 against the dollar on Friday as investors remain concerned about the sudden dismissal by President Recep Tayyip Erdogan of the central bank governor and his replacement with another supporter of tightening monetary policy. The pound fell by up to 1.9% against the US currency …

The Turkish lira rose more than 1% on Wednesday, March 24, to offset some of the losses it incurred after President Recep Tayyip Erdogan’s surprise decision at the weekend to change the central bank governor to the last opponent of tightening fiscal policy. The lira reached 7.8650 dollars against the …

The lira partially recovered to 7.8 against the dollar on Monday, after falling 15% to an all-time low in early trade following President Recep Tayyip Erdogan’s shocking decision to dismiss the central bank governor. The lira tumbled as much as 8.4850 against the dollar from 7.2185 on Friday, returning to …

The Turkish central bank issued the interest rate decision today, and expectations are that the bank will raise the interest rate again, to 18%. The central bank raised the interest rate to 19%, which is higher than expectations, to increase confidence in the independence of the bank’s decisions.

The Turkish lira weakened slightly Thursday, March 18, ahead of a central bank decision on interest, when it is expected to raise the main interest rate by 100 basis points to 18%, in what is considered an important test of its commitment to reduce inflation. Expectations for a rate hike …

The Turkish Automobile Industry Federation said that the country’s auto sector production fell 9.3% year-on-year in February to 116,88 cars, and exports fell 14.3% to 87,908 cars. said that in the period from January to February, production decreased 6.5 percent to 222,264 cars, while exports decreased 14.1.

The Turkish lira rose about 1%, to offset some of the recent losses it incurred for the third day in a row with growing expectations that the central bank will raise interest rates from 17% next week. The lira was steady at 7.44 against the US dollar, rising from Wednesday’s …

Turkey’s unemployment rate fell to 12.2% in January and the labor force participation rate rose to 50% from a month ago, according to data released on Wednesday that was presented in a new form in line with international standards. The unemployment rate was 12.6% in December and 12.8% a year …