The Turkish pound is falling 5% close to 12 against the dollar, reaching a new low, the 11th in a number of days, after the statements of President Erdogan, who defended the recent interest rate cuts, and pledged to win the ” economic war of independence ”, despite widespread criticism. The pound fell to 11.9990 […]
Tag: Central Bank of Turkey
Turkish pound collapses again – 8% drop, exceeded 12 against the dollar
LAST UPDATE 11:50 The Turkish pound is falling 8% to more than 12 against the dollar, hitting a new record low, the 11th in a number of days, following statements by President Erdogan, who defended recent interest rate cuts and vowed to beat him. economic war of independence ”, despite widespread criticism. The pound fell […]
The Turkish pound is in ‘free fall’ – It has lost up to 15%
LAST UPDATE 16:00 The Turkish pound is falling around 10%, hitting more than 12 against the dollar, reaching a new record low, the 11th in a number of days, following statements by President Erdogan, who defended recent interest rate cuts and vowed to win. the “economic war of independence”, despite widespread criticism. The pound fell […]
Turkey: Central bank cuts interest rates to 15% – 1 to 11 against the dollar ‘touches’ the pound
Turkey’s central bank has cut interest rates for the third month in a row as President Erdogan has made it clearer than ever that he will not abandon his campaign for lower borrowing costs, despite a weakening currency and rising inflation. The monetary policy committee, chaired by Sahap Kavcioglu, cut the one-week key refinancing rate […]
Endless slump in Turkish lira – Anxiety and uncertainty over central bank decision
At a new all-time low, close to 11 pounds against the dollar, the Turkish currency formed in the morning trading, in view of the meeting of the central bank, which is expected to further reduce interest rates despite the fact that the currency is falling sharply and inflation remains close to 20%. The pound is […]
Reuters: Turkish state energy BOTAS appeals to the central bank
Turkish state-owned energy company BOTAS is expected to turn to the central bank to meet its growing needs for hard currency and to support the pound as gas prices and demand rise during peak consumption in the winter months, they say. sources on reuters. Turkish officials say the government intends to allow BOTAS to use […]
Erdogan unmoved despite pound lows – Calls for new interest rate cuts
Turkish President Tayyip Erdogan has reaffirmed his willingness to see his country’s central bank cut interest rates further, sending a “message” to investors a day before the latter’s monetary policy committee meeting. “I can not be in the same camp as those defending high interest rates,” he said, speaking from the National Assembly building in […]
The Turkish pound ‘reaches’ 10 against the dollar – Deutsche Bank ‘sees’ interest rate cuts
The Turkish pound continues with the brakes broken, as after the record it set on Wednesday, at 9.85 against the dollar, on Thursday proceeded to record another negative record, reaching 10! The fall of the pound is driven mainly by investors’ concern that the adventurous monetary policy of the Central Bank and Sahab Kavtzioglu, dictated, […]
What about Turkey: Has it surrendered to the pound or does it want to?
Turkey’s central bank cut its policy rate by 200 basis points two weeks ago, shocking the markets, as most analysts expected, at worst, a drop of up to 100 points, while sending the distressed Turkish pound to a new record low and widening the spectrum of deeper economic turmoil in Recep Tayyip Erdogan’s country. The […]
New ‘slump’ for Turkish pound: New record at 9.875 against the dollar
The Turkish lira fell 1.3% to a new all-time low on Wednesday as higher-than-expected US inflation extended a series of currency losses driven by worries about early interest rate cuts. With the worst performance in emerging markets this year, the pound fell to 9.875 against the dollar, surpassing the previous record of 9.85, set two […]
