ISTANBUL (Reuters) -Turkey's central bank unexpectedly cut its policy rate by 100 basis points to 18% on Thursday, delivering stimulus long sought by President Tayyip Erdogan despite high inflation, and sending the lira to near a record low.
ISTANBUL (Reuters) -Turkey's central bank has begun setting the stage for an interest rate cut long sought by President Tayyip Erdogan, although most analysts don't think it will pull the trigger this week after inflation jumped and the lira took a slide.
ANKARA Turkey's central bank hinted on Wednesday it is nearing an interest rate cut during conference calls in which its governor did not repeat past pledges to keep policy tight relative to inflation, several investors who participated in them said.
ANKARA Turkey's economy is bouncing back from a pandemic-induced slump with close to 10% growth expected this year as manufacturing and consumption soar, but the boom is feeding into - and in turn being eroded by - double-digit inflation.
ISTANBUL Five years after President Tayyip Erdogan saw off a coup, his chances of extending his rule into a third decade may depend on whether he can reverse an economic decline that has seen Turks' prosperity https://tmsnrt.rs/2TaYZu5, equality https://tmsnrt.rs/3jhqMnU and employment https://tmsnrt.rs/3x6AXj1 fall since 2013.
GDP poll data
ISTANBUL Sedat Peker, a convicted Turkish mob boss whose online videos have shaken Turkish politics, was questioned by Dubai police and released after several hours on Sunday, according to his press adviser and a comment by Peker on Twitter.
ISTANBUL (Reuters) -Turkish President Tayyip Erdogan said he and U.S. President Joe Biden must use a meeting on Monday to move on from past troubles, including a bitter dispute over Ankara's purchase of Russian S-400 missiles.
ISTANBUL, June 13 Turkish President Tayyip
Erdogan said he and U.S. President Joe Biden must use a meeting
on Monday to move on from past troubles, including a bitter
dispute over Ankara's purchase of Russian S-400 missiles.
ISTANBUL (Reuters) -Turkey's lira hit a record low on Friday as concerns over global inflation, an early election and a possible ratings downgrade marked the latest milestone in a years-long depreciation that has dogged the big emerging market economy.