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Reactions mount against another rate cut by Turkey’s central bank

Politicians, economists and social media users have criticized the Turkish Central Bank’s latest move to cut its policy rate by 100 basis points to...
Business

Turkish lira sinks as central bank cuts interest rate

The Turkish lira sank further on Thursday as the central bank slashed interest rates for the third consecutive month following pressure to do so...
Business

Turkish lira hits record low as Erdoğan vows to fight high interest rates

The Turkish lira hit a record low of 10.63 to the US dollar with the expectation of an interest rate reduction after President Recep...
Business

Turkey’s troubled lira accelerates record slide

The Turkish lira suffered one of its biggest falls of the year on Tuesday and hit new historic lows to cement its status as...
Business

Turkey posts $7.6 billion budget deficit in first 10 months

The Turkish government ran a deficit of 17.4 billion lira ($1.7 billion) in October, bringing the budget deficit in the first 10 months of...
Business

Spain’s BBVA seeks full ownership of Turkish lender Garanti

Spain's second-largest bank BBVA said Monday it has launched a bid to take full control of Turkish lender Garanti, issuing a vote of confidence...
Business

Opposition blames AKP gov’t for Turkish lira hitting record low of 10 to US dollar

Opposition parties have slammed Turkey’s ruling Justice and Development Party (AKP) government as the lira, which has weakened by more than a quarter so...
Business

Turkish lira hits new depths near 10 to the dollar

The Turkish lira continued its dive into uncharted territory on Thursday, touching a new low of 9.975 to the dollar after a jump in...
Business

Turkish unemployment dips to 11.5 percent, underutilization edges up

Turkey's unemployment rate declined to 11.5 percent in September, from 11.8 percent a month earlier, while a seasonally adjusted measure of labor underutilization rose...
Business

Turkey’s state-owned enterprises lost $1.65 billion in 2020: report

Turkey’s state-owned enterprises suffered a loss of TL 16 billion ($1.65 billion) in total in 2020, local media reported on Saturday, citing a recent...
Business

Erdoğan aide denies claims about resignation of finance minister

Fahrettin Altun, communications director for Turkish President Recep Tayyip Erdoğan, has denied media reports suggesting that the country’s finance minister has submitted his resignation...
Business

Erdoğan says Turkey to record double-digit growth this year

Turkey's economy is expected to record double-digit growth in 2021, President Tayyip Erdoğan said on Thursday, higher than a previous government forecast of 9...
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