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 […]
Tag: International financial news
Erdogan: ‘Chinese model’ model
The Turkish president is keeping interest rates low, claiming that this monetary policy has brought growth to China. The comparison falters, economists say. For years, the Turkish economy has been plagued by rampant inflation. Rising energy prices, rents and basic foodstuffs are primarily affecting the middle classes of society. . One dollar now requires about […]
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 […]
France: Plans to issue a green bond linked to inflation
France maintains its 2022 lending plans unchanged despite the larger-than-expected deficit, and will consider innovating with an inflation-linked green bond market, the debt management agency said. Agence France Tresor said it expected to issue 260 billion euros in medium- and long-term bonds – net of acquisitions – for a third year, unchanged from plans announced […]
Tragic situation in Turkey: Prices are rising before the previous increases are implemented
The Turkish economy is in a tragic state as a result of the attempt of Turkish President Recep Tayyip Erdogan to go against all the logic of the fundamental economy and to formulate his own policy, denying every basic principle and ignoring the needs of the people who voted for him and brought him to […]
Kazaks (ECB): The ECB will only intervene if Omicron causes major damage
The Omicron mutation must cause significant damage to the eurozone economy in order for the ECB to decide to further support the economy, the board member stressed. of the European Central Bank, Martins Kazaks. It is still too early to say how the new executive will affect the continent’s recovery, said the governor of the […]
China: Car sales fell for the sixth consecutive month
Car sales in China fell for the sixth month in a row as sporadic coronavirus outbreaks in the world’s largest car market hit retailers, despite declining processor and component shortages. Passenger car sales in November fell 12.7 percent from a year earlier to 1.82 million vehicles, according to the China Passenger Car Association. January-November sales […]
Inequality in Turkey: At € 27,400 the average annual income but half the population has an income of € 6,500
The World Inequality Lab, founded by Paris-based economist Thomas Piketty, has published its 2022 Global Inequality Report. According to the report, the richest 10% of the world’s population currently receives 52% of world income, while the poorest half of the population earns only 8%. Global wealth inequalities are said to be even more pronounced than […]
The key interest rate from the central bank of India is unchanged
The central bank of India kept the key interest rate unchanged, as the Omicron mutation causes uncertainty in the country’s economic prospects. The governor of the central bank, Shaktikanta Das, stressed that the monetary policy committee decided to keep the repurchase rate at 4% and the reverse repurchase rate at 3.35%. Economists expected the repurchase […]
Japan: Greater-than-expected recession in the third quarter
The Japanese economy shrank slightly more than initially expected in the third quarter, as the rapid rise in coronavirus cases hit private consumption and a global shortage of processors hit the corporate climate. The deeper contraction is a setback for policymakers who hope that easing food shortages and easing pandemic constraints will support recovery in […]
