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The Turkish lira slid for a fifth straight day on Friday, hit by surging U.S. bond yields that helped erase all the year's gains and set the stage for a potentially tougher battle against double-digit inflation.
President Tayyip Erdogan on Monday defended a policy that oversaw a steep drop in FX reserves under former finance minister Berat Albayrak, his son-in-law, saying it helped Turkey to ride out pandemic-related shocks.
By Tuvan Gumrukcu ANKARA (Reuters) - President Tayyip Erdogan on Monday defended a policy that oversaw a steep drop in FX reserves under former financ...
Turkey will publish monthly labour market data, rather than the three-month moving average, beginning on April 12 covering the January and February periods, the official statistics agency (TUIK) said on Monday.
Publishing date: Feb 17, 2021 • February 17, 2021 • 4 minute read • Article content ANKARA — Naci Agbal, Turkey’s new central bank governor, began his career as a financial inspector three decades ago. He hopes such devotion to the rules will see him – and the economy – through one of the trickiest turnaround jobs in emerging markets. Turkish President Tayyip Erdogan appointed Agbal in early November as the lira touched a record low and double-digit inflation was rising even higher. He has since hiked interest rates to 17% from 10.25%, sending the lira rallying bey...