The rating agency Moody’s confirmed Turkey’s creditworthiness, citing the improved position of its reserves and the lower current account deficit. The house maintained Turkey’s long-term rating of “B2”, which is non-investment and subject to high credit risk. Moody’s has also maintained a negative outlook for the country due to the unpredictable policies of Turkish President […]
Tag: Central Bank of Turkey
S&P: Danger for Turkey from the Central Bank’s attempt to save the pound
The international credit rating agency S&P Global has warned that the Central Bank’s attempt to prevent the Turkish pound from depreciating by issuing dollars in the market puts Turkey in further danger. S&P, in a written statement to Reuters, commented that the use of reserves by the Central Bank to protect the exchange rate in […]
Annual inflation rises in Turkey: CPI at 21.31%
Turkey’s annual inflation rate rose for a sixth straight month in November to a three-year high as the weaker pound and higher inflation expectations pushed up prices. The consumer price index rose to 21.31% in November compared to the same period in 2020, the Turkish statistical service Turkstat announced on Friday. Hotels, cafes and restaurants […]
Erdogan’s change of Ministry of Foreign Affairs disbands Central Bank’s efforts to save pound
Any possibility that the Turkish Central Bank (TCMB)’s first intervention in the pound in seven years would strengthen the currency has been dampened by Turkish President Recep Tayyip Erdogan’s decision to replace Finance Minister at midnight. The currency fell as much as 2.1 percent on Thursday, erasing all gains from the previous day, after Erdogan […]
Reuters: Turkish central banker calls for halt to interest rate cuts from January
Turkey’s central banker has left open the possibility of interest rate cuts in January, after another one this month, according to Reuters, citing participants in the banker’s investor call with investors. Turkish President Recep Tayyip Erdogan last night appointed Nureddin Nebati as the new finance minister following the departure of Lutfi Elvan. The new minister […]
Turkey: Albayrak’s groom associate the new YPOIK – The photo with Gulen, the tweet about God
A day that began with the official announcement of the Central Bank of Turkey for interventions in the foreign exchange market in an attempt to “put a brake” on the collapse of the Turkish pound, ended with the Finance Minister Lutfi Elvan to submit his resignation to President Recep Tayyip Erdogan. An article in the […]
The ‘groom”s man: A close associate of Berat Albayrak, the new Turkish Ministry of Foreign Affairs
A day that began with the official announcement of the Central Bank of Turkey for interventions in the foreign exchange market in an attempt to “put a brake” on the collapse of the Turkish pound, ended with Finance Minister Lutfi Elvan submitting his resignation to President Recep Tayyip Erdogan. An article in the Official Gazette […]
Turkish YPOIK resigns – Close associate of ‘groom’ Berat Albayrak the new YPOIK
A day that began with the official announcement of the Central Bank of Turkey for interventions in the foreign exchange market in an attempt to “put a brake” on the collapse of the Turkish pound, ended with the Finance Minister Lutfi Elvan to submit his resignation to President Recep Tayyip Erdogan. An article in the […]
Turkish banks announced a profit increase for the 10 months of 2021
Outbursts of anger and resentment are the main emotions that Turkish citizens have begun to express, reacting after a long time to the economic and micropolitical machinations of Turkish President Recep Tayyip Erdogan brought the Turkish lira to almost double its value within two years against the dollar and the euro. In fact yesterday the […]
Turkey: 7.4% economic growth in the third quarter
The Turkish economy grew at a rate of 7.4% year-on-year in the third quarter, according to the statistical service Turkstat, but the sharp fall in the pound amid concerns about persistently high inflation has now plunged the country into a monetary crisis. Growth in the quarter was supported by private consumption, which rose 9.1% year-on-year […]