Consumer price index climbs 36% year on year in December
Archive for category: Turkey
The ECB has already warned once about the potential impact a plummeting lira could have on Euro Area banks heavily exposed to Turkey’s economy.
Series of rate cuts will ‘quickly translate’ into worsening inflation, Goldman Sachs says
As the world moves to increase rates, central bank slashes them
President removes two deputy governors in new round of dismissals sending currency down 1%
Currency hits low as foreign investors pull out and worries swirl over central bank policy
Lira plunged by 15% on Monday after Erdoğan replaced governor with party loyalist
Turkey’s economy has been thrown into renewed turmoil after the president, Recep Tayyip Erdoğan, sacked the head of the country’s central bank days after raising interest rates to tackle soaring inflation.
The Turkish lira plunged by almost 15% on Monday, while the Istanbul stock exchange shed a 10th of its value after the president shocked global investors by replacing Naci Ağbal with a party loyalist.
The post Municipal Worker Strikes in Istanbul appeared first on Spectre Journal.
Currency has risen 6.5% against the dollar since start of January as tighter monetary policy shores up sentiment