LAST UPDATE 12:45 At noon on Thursday, the Central Bank of Turkey cut interest rates by another 100 basis points to 14%, sending the dollar / pound exchange rate above 15. But the orthodox war of Turkish President Recep Tayyip Erdo Îχειan has investors were indifferent as on Friday morning it seemed that nothing could […]
Tag: Central Bank of Turkey
Central Bank of Turkey cuts interest rates again – Pound losses widen
The Turkish pound plunged to a new low after the Central Bank (TCMB) decided to cut interest rates again, by 100 basis points, to 14%, at the behest of President Recep Tayyip Erdogan. The pound has lost more than 2.5% since the morning, passing the 15 to the dollar, losses that accelerated after the decision […]
The pound is falling apart and Erdogan has raised: At 4,250 pounds from 2,825 pounds the minimum wage
LAST UPDATE 15:42 Turkish President Recep Tayyip Erdogan said today that the country’s minimum wage would rise from 8 2,825 to 4. 4,250 next year amid a record low of the national currency. “As part of the negotiations, we have made a decision, according to which the minimum wage will be at least 4,250 pounds […]
New slump in Turkish pound – Erdogan fires after midnight
Turkish President Recep Tayyip Erdogan continues to insist that there is no independence when the conversation revolves around the Central Bank of Turkey. Everything is done at his behest and he is the one who rushes, even at the last minute, to “silence” anyone who dares to oppose his plan for low interest rates amid […]
Turkey: Everyone expects interest rate cut from the Central Bank while the pound reaches 15 against the euro
The Turkish lira is in a free fall and on Wednesday it moves again to an all-time low. The pound is falling more than 3% to 14.8 against the dollar on Wednesday, amid prospects for a further cut in interest rates tomorrow by the Central Bank of Turkey (TCMB) at the behest of President Recep […]
New sudden drop of 7% for the Turkish pound – New intervention by the central bank
LAST UPDATE 16:37 The Turkish pound fell again by 7% near a new record low of 15 pounds against the dollar amid concerns over President Erdogan’s risky new economic policies and the possibility of a new cut in interest rates. Thursday. The fall of the pound led to a new intervention, on Wednesday within two […]
Turkey: New intervention by the central bank to support the pound
Turkey’s central bank sold foreign currency for the third time this month to stem the fall of the pound closer to the $ 14 mark. The monetary authority said in a statement that it had intervened in the market because of unhealthy prices, echoing the language used by President Erdogan to describe a new sell-off […]
Barclays: New interest rate cuts coming to Turkey – At 19 against the pound in 2022
The Central Bank of Turkey (TCMB) will continue to cut interest rates in December and January, with monetary policymakers maintaining the “absurd view” that the pound fall and rising inflation are temporary, Barclays said. , according to the Turkish newspaper Dünya. Loose monetary policy means the pound is likely to weaken to 14.5 against the […]
Erdogan urges Turks to trust his new economic model
Turkish President Recep Tayyip Erdogan said today that Turks should be patient and trust the new economic model followed by his government, which prioritizes economic growth through low interest rates, while the pound has fallen. 2% to a new low record. The fall of the Turkish pound is due to the aggressive monetary easing of […]
Bitcoin could pull Turkey out of the monetary crisis
By Frank Holmes It’s early December 2021 and The Turkish pound has fallen near its all-time low against the US dollar as President Recep Tayyip Erdogan continues to pursue what the Wall Street Journal calls “unconventional economic policy.” Households in Turkey saw the value of the hryvnia fall by about 30% in November, making everything […]
