Inflation in Turkey is expected to remain above 40% for most of 2022, according to a note from Goldman Sachs, which forecasts that the rate will exceed the recently announced 36% of last month. Annual inflation in the country accelerated to 36.1% in December, the Turkish Statistical Service announced on Monday, setting a new record, […]
Tag: Nurettin Nebati
Drop up to 4% for the Turkish pound
The Turkish pound fell as much as 4% against the dollar on Tuesday as Turkey prepares for further inflation, which hit a 19-year high in December on an annual basis. The country’s finance minister, Nureddin Nebati, has said he expects a return to stability after the currency has fallen sharply in recent months. The Turkish […]
Υπ. Turkish Finance: The Fed is controlled by five wealthy families
After the famous interview a few days ago, during which the Minister of Economy and Finance of Turkey called the journalist to see “the gleam in his eyes” to understand how the Turkish economy is going, yesterday, the graphic tsar of the Turkish economy struck again, claiming that the Federal Reserve does not belong to […]
Turkish Finance Minister announces slow decline in inflation until 2023
Turkish Economy and Finance Minister Nurettin Nebati said on Wednesday that the stability of the Turkish pound and government price controls would ensure a slow drop in inflation, which is expected to exceed 30% (officially) in December. At the same time, trying once again to convince investors and markets about the intentions of the Turkish […]
New losses for the pound: Concerns grow, enthusiasm for Erdogan’s announcements drops
The Turkish lira weakened by an additional 3% on Tuesday, extending the sharp losses seen a day earlier and eroding the huge gains made last week, as concerns over the country’s monetary policy further aggravated the climate in the financially shattered country. At 12:00 Greek time, the pound was 2.93% lower, at 11.8599 against the […]
Turkey: Lawsuits against former central bankers for manipulating the pound
The Banking Regulation and Supervision Agency, Turkey’s banking supervisor, has filed lawsuits against more than a dozen people, including two former central bank governors (TCMBs), for their comments on the pound and a senior government official said legal action. Among those charged are Durmus Yilmaz and Rustu Saratsoglu, former heads of the TCMB; The list, […]
Turkish Ministry of Foreign Affairs: We did not sell foreign currency, the recovery of the pound is due to the confidence in Erdogan
Turkish public banks did not sell dollars on the night of December 20, when Turkish President Recep Tayyip Erdogan announced a new economic model, which resulted in a recovery of up to 20% of the pound after the all-time low against the dollar. at 18.41, Finance Minister Nureddin Nebati said on Monday. They were people […]
Turkey: Total pound recovery over 40% – $ 50 billion in reserves, opposition says
LAST UPDATE 14:52 Turkey continues to pleasantly surprise the markets for the time being, following Erdogan’s announcements about new protection mechanism for deposits in Turkish lira. The Turkish currency traded at 11.48 against the dollar, recording a rise of 4.63% when on Monday afternoon the exchange rate of the two currencies had reached 18.41. Overall […]
Is the Turkish Minister of Finance under persecution?
Turkey’s newly appointed finance minister, Nurettin Nebati, appears to be under pressure, according to sources close to the Justice and Development Party (AKP). According to reports, President Recep Tayyip Erdogan has resented Nebati, as, in a meeting with investors, instead of supporting the statements of the Turkish president, who blames “foreign forces” for the country’s […]
Erdogan is considering firing another Turkish finance minister
Turkey’s newly appointed finance minister, Nurettin Nebati, appears to be under pressure, according to sources close to the Justice and Development Party (AKP). According to reports, President Recep Tayyip Erdogan has resented Nebati, as, in a meeting with investors, instead of supporting the statements of the Turkish president, who blames “foreign forces” for the country’s […]