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Turkey holds rates in surprise that sends lira to new low

22 Oct 2020

ISTANBUL Turkey's central bank bucked expectations for a big interest rate hike on Thursday and sent the lira plunging to a record low by holding its policy rate at 10.25% and saying it had already made progress in containing inflation.

UPDATE 2-Turkey holds rates in surprise that sends lira to new low

22 Oct 2020

ISTANBUL, Oct 22 Turkey's central bank bucked expectations for a big interest rate hike on Thursday and sent the lira plunging to a record low by holding its policy rate at 10.25% and saying it had already made progress in containing inflation.

Researchers say new model shows Turkish inflation well above official tally

22 Oct 2020

ISTANBUL Turkish monthly inflation was more than triple the official rate in September, according to a new model developed by a group of academics and researchers based on more frequent data than the government statistics office.

Turkish central bank to hike rates 175 points to 12%: Reuters poll

19 Oct 2020

ISTANBUL Turkey's central bank is expected to keep tightening policy in the face of a sliding lira and raise its key interest rate by 175 basis points to 12% this week, a Reuters poll showed on Monday.

Doctors group says Turkey 'hid the truth' by reporting only those with COVID-19 symptoms

01 Oct 2020

ISTANBUL Turkey's top medical association and the main opposition party on Thursday criticised a decision by President Tayyip Erdogan's government to only publicly disclose new coronavirus cases if the patient is showing symptoms.

Turkish lira grinds lower with no rate hike in sight

23 Sep 2020

ISTANBUL Turkey's currency continued its gradual descent to record lows on Wednesday, reflecting expectations the central bank would not hike rates to stem the slide as tensions with Greece and the threat of new EU sanctions appeared to ease.

Turkish inflation seen rising towards 12% in August: Reuters Poll

31 Aug 2020

ISTANBUL Turkey's annual consumer price inflation is expected to climb towards 12% in August, a Reuters poll showed on Monday, pushed up by higher energy prices and the weak lira.

U.S. judge overseeing criminal case against Halkbank will not recuse himself

25 Aug 2020

ISTANBUL Turkish state lender Halkbank has lost a bid to have the U.S. judge overseeing a criminal case accusing it of helping Iran evade American sanctions recuse himself.

Drop in Turkey's currency raises stakes as hotels fight for survival

24 Aug 2020

* Foreign tourists vital to funding large current account deficit

Gold rush at Turkish bazaar a test of trust for lowly lira

14 Aug 2020

ISTANBUL Hasan Ayhan followed his wife's instructions last week and took their savings to buy gold at Istanbul's Grand Bazaar as Turks scooped up bullion worth $7 billion in a just a fortnight.

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