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Rating agencies warn Turkey it may need to hike rates: report

Ratings agencies warned Turkey on Friday that it will likely have to hike interest rates sooner or later as it runs out of options...

Moody’s says Turkish economy will shrink 1.4 pct in 2020 due to coronavirus effect

US-based credit rating agency Moody’s has said the Turkish economy will shrink by 1.4 percent in 2020 and grow 0.8 percent next year, slashing...

Turkey’s negative interest rates likely to harm central bank’s credibility: Moody’s

Turkey’s newly negative real interest rates will likely harm the central bank’s credibility, risk hitting investor confidence and amount to a credit negative for banks’ funding,...

Turkey’s industrial production increase indicates signs of recovery: report

Turkish industrial production expanded 3.4 percent year-on-year in September after contracting for 12 months, government data indicated on Thursday, as the economy shows signs of recovery...

Moody’s disputes Turkey’s growth expectations unveiled in new economic program

Global credit rating agency Moody’s says Turkey’s economic program growth targets risk increasing macro imbalances, adding that a 5 percent growth target for next year is...

Moody’s downgrades credit rating for 18 Turkish banks

Moody’s on Tuesday cut the credit rating of 18 Turkish banks, the Diken news website reported.State lenders such as Ziraat Bank, Halkbank and Vakıfbank along with private...

Moody’s downgrades Turkey rating to B1, ministry challenges move

Moody’s cut Turkey’s sovereign credit rating deeper into “junk” territory on Friday, saying the risk of a balance of payments crisis continued to rise, and with...

Moody’s warns Turkey over vulnerabilities stemming from forex reserves

Turkey’s foreign exchange reserves have fallen to a fresh 2019 low once short term borrowing is stripped out, new data showed on Thursday, as Moody’s issued...

Moody’s says Turkey’s economy likely entered recession

Global credit agency Moody’s has said Turkey's economy began decelerating rapidly in the third quarter, in the wake of a currency crisis, causing a...

Moody’s warns of sharp contraction in Turkey’s economy

Declines in the Turkish lira, one of this year’s worst performers globally, will translate into sharp economic contraction as growth decelerates across advanced and...

Moody’s downgrades foreign currency deposit ratings of 9 banks in Turkey to B2

Moody's Investors Service on Wednesday downgraded the long-term foreign currency deposit ratings of nine Turkish banks from B1 to B2.The banks affected by the...

Erdoğan calls int’l credit rating agencies ‘fraudsters,’ says currency crisis will pass

Turkish President Recep Tayyip Erdoğan on Friday called international credit rating agencies “fraudsters” while promising his supporters that “this too shall pass,” referring to...

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