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JPMorgan expects Turkey’s central bank to raise interest rates to 25 percent

JPMorgan said on Monday it expects Turkey’s central bank to hike interest rates to 25 percent from the current 8.5 percent at its June...
Business

Turkish central bank’s new governor accused of violating laws, misleading customers in US

Hafize Gaye Erkan, a former Wall Street executive who has been appointed the new governor of Turkey's central bank by President Recep Tayyip Erdoğan,...
Business

Former Wall Street executive named head of Turkey’s central bank

Turkey's newly re-elected President Recep Tayyip Erdoğan on Friday appointed former Wall Street executive Hafize Gaye Erkan as central bank governor, signaling a possible...
Business

Turkey state banks return to lira’s defense after sharp drop: report

Turkish state lenders began supporting the lira again following the currency’s biggest drop in more than a year on Wednesday, Bloomberg reported. The currency steadied...
Business

Turkish lira down 7 percent in biggest selloff since 2021 crisis

Turkey's lira plunged 7 percent to a record low on Wednesday in its biggest daily selloff since a historic 2021 crash, as the newly...
Business

Turkish Airlines to soon finalize plans on order for 600 new planes

The chairman of Turkish Airlines said Monday that the company will make a final decision on plans for a record-breaking order for 600 aircraft...
Business

Turkish economy to return to ‘rational ground’, new finance minister Şimşek says

Turkey's newly appointed Finance Minister Mehmet Şimşek said on Sunday that the country has no choice but to return to "rational ground" to ensure...
Business

Turkish inflation dips under 40 percent for first time in 16 months

Turkey's annual inflation rate dropped below 40 percent in May for the first time in 16 months, pushed down by a temporary offer of...
Business

Erdoğan to appoint investor friendly Mehmet Şimşek as finance minister: reports

Turkish President Recep Tayyip Erdoğan will appoint Mehmet Şimşek, widely respected by foreign investors, as his new treasury and finance minister, Bloomberg and the...
Business

‘Day of reckoning’: Turkish economy’s post-election peril

Turkey's economy is in a double bind: Analysts see its current policies leading to imminent peril and the prescriptions incurring massive pain. President Recep Tayyip...
Business

Turkish lira hits record low, stocks gain after Erdoğan secures re-election

Turkey's lira hit fresh record lows against the dollar on Monday, though stocks rallied, after President Recep Tayyip Erdoğan secured victory in Sunday's presidential...
Business

Turkish lira hits record low ahead of Sunday’s runoff election

The Turkish lira weakened to a record low of 20 against the dollar on Friday, ahead of this weekend's presidential election runoff, which will...
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