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Erdoğan replaces central bank deputy governor in latest shake-up

Turkish President Recep Tayyip Erdoğan appointed a Morgan Stanley executive to the central bank’s interest rate setting committee, as the shake-up at the monetary...
Business

Turkey’s new central bank governor says April rate cut shouldn’t be taken for granted

Şahap Kavcıoğlu, the newly appointed governor of Turkey’s central bank, said markets shouldn’t take for granted that he’ll cut interest rates as early as...
Business

Erdoğan urges Turks to put gold, foreign currency in banks to help economy

President Recep Tayyip Erdoğan on Wednesday called on citizens of Turkey to put any foreign currency or gold they keep at home in banks...
Business

Turkish lira, stocks sink after Erdoğan fires top banker

The Turkish lira and stocks plunged Monday as officials tried to stem the carnage caused by President Recep Tayyip Erdoğan's abrupt dismissal of his...
Business

Turkey tries to calm market turmoil after top banker sacked

Turkish officials on Monday tried to calm the turmoil triggered by President Recep Tayyip Erdoğan's abrupt decision to sack his reformist central bank chief,...
Business

Turkey sacks central bank governor after interest rate hike

Turkey fired the governor of its central bank and replaced him with economist and former ruling party lawmaker Şahap Kavcıoğlu, according to a presidential...
Business

Turkey’s central bank hikes main interest rate to 19 pct

Turkey's central bank on Thursday sharply hiked its main interest rate to 19 percent to counter rising inflation and the dropping value of the...
Business

Turkish jewelers irked at plans to force them to deposit 500 grams of gold with state banks

A draft regulation by Turkey's trade ministry which will stipulate that jewelers deposit 500 grams of gold with state-owned banks as "security" has drawn...
Business

Erdoğan promises single-digit inflation, tax exemptions in new economic reform plan

Turkish President Recep Tayyip Erdoğan pledged to focus efforts to improve Turkey’s economy on bringing inflation down to single digits and introducing tax exemptions...
Business

University graduates among 5,000 applying for 9 janitorial jobs in SE Turkey

A main opposition lawmaker said that 1,143 university graduates were among 5,217 people who applied for nine cleaning staff positions in Turkey's southeastern Adıyaman...
Business

Turks grapple with poverty as inflation bites

Gülay Avşar is a regular at a market in Ankara's old town, where prices are more reasonable than most other places around the Turkish...
Business

128 billion in dollars allegedly sold in 2019-2020 still in Treasury and central bank, Erdoğan claims

Turkish President Recep Tayyip Erdoğan on Wednesday argued that some $128 billion, which is claimed by the opposition to have been sold from the...
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