The Turkish pound fell as much as 1.7% on Thursday, dipping more than 20% in the last nine sessions, amid continuing investor worries about inflation in the country, as it has climbed to a 19-year high. after a series of unorthodox interest rate cuts. In particular, as reported by Reuters, the Turkish currency fell to […]
Tag: Erdogan
The slump for the Turkish pound continued – Falling up to 1.7% on Thursday
LAST UPDATE: 20.30 The Turkish pound fell as much as 1.7% on Thursday, dipping more than 20% in the last nine sessions, amid continuing investor worries about inflation in the country, as it has climbed to a 19-year high. after a series of unorthodox interest rate cuts. In particular, as reported by Reuters, the Turkish […]
The pressures in the pound are maintained, it again exceeded the level of 12 / dollars.
The Turkish pound continues to decline today, widening the losses of the previous days in a new indication that the emergency measures announced last week to support the currency may not be enough. The Turkish currency is losing more than 2% today at 12.1635 per dollar with the total losses since the beginning of the […]
Turkish President Recep Tayyip Erdogan wishes Ecumenical Patriarch a speedy recovery
The warm wishes of the President of the Republic of Turkey, Recep Tayyip Erdogan, for a speedy recovery, were conveyed to the Ecumenical Patriarch Bartholomew by the Minister of Health, Dr. Fahrettin Koca, in a telephone conversation that took place that evening. Mr. Kotza conveyed to His Holiness, who remains under observation in a central […]
Because the markets are closely watching Erdogan’s hundreds of speeches
“Traders studying Turkish President Recep Tayyip Erdogan’s speeches on indications of his policy can expect to spend even more” study “days in 2022, albeit probably in shorter sermons,” the report said. Bloomberg agency. Erdogan’s speeches, which often move the Turkish pound with comments on interest rates and geopolitical developments, are increasing in frequency and decreasing […]
The hidden ‘rationalization’ of Erdogan’s economic choices
By Costas Raptis This is not a dilemma that Tayyip Erdogan faces in economic policy. It is a “trilogy” known in the international debate for a long time – formulated, ironically, by an economist born and raised in Turkey, Danny Rodrick of Harvard. In its original form, the “Mundell-Fleming trilogy” is the inability of an […]
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 […]
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 […]
Turkey: Finance Minister Lutfi Elvan replaced
Turkish Finance Minister Lutfi Elvan was replaced late Wednesday by Deputy Finance Minister Nuredin Nebati, who is taking over as minister, according to the duvaR website. Rumors have surfaced earlier that Elvan may soon step down as Turkey’s finance minister because of his opposition to President Recep Tayyip Erdogan’s view on how to tackle inflation. […]
Turkey: Rumors of Erdogan’s unacceptable resignation of the Ministry of Foreign Affairs – the pound is falling
A new unrest seems to be underway in the Turkish Ministry of Finance and Treasury, as broadcast by ERT1. According to the opposition newspaper Cumhuriyet, incumbent Prime Minister Lutfu Elvan has submitted his resignation to President Erdogan for “the rapid rise of foreign currencies while depreciating the Turkish pound.” Erdogan does not appear to have […]