Category: Economy
Erdogan Says Turkey Will Persist With Single-Digit Rates
26th November 2022
(Bloomberg) — Turkish President Recep Tayyip Erdogan signaled the country will stick with an ultra-loose monetary policy approach of single-digit rates, after the central bank slashed borrowing costs. The central bank this week said it’s ...
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Salvage value of TL coin tripled its monetary value
26th November 2022
Fikri Saglar, an opposition figure who was formerly Minister of Culture and Tourism in Turkey said on Twitter that the production cost of TL1 coin exceeded 3 TL, three times more than the coin’s monetary ...
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Turkey’s Central Bank cuts policy rate to single-digit
24th November 2022
Turkey’s Central Bank on Nov. 24 lowered its policy interest rate by 150 basis points to 9%. The bank stressed that it had decided to end the cycle of rate cuts that started in August ...
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