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Topic

Turkey's Treasury

Turkish economy to return to form with 6.7pc growth in Q1, 5.5pc in 2021

Turkish economy to return to form with 6.7pc growth in Q1, 5.5pc in 2021

Published 26 May, 2021 08:13pm
  • Forecasts from 13 economists ranged from 4.5% to 7% for the full-year, while the median estimate was up from 4.5% in a February poll. For the first quarter, forecasts from 14 economists ranged from 5% to 7.5%.
  • Turkey's economy grew just 1.8% last year and 0.9% in 2019, well down from an average of about 5% over the last two decades.
Turkey's net FX reserves rise to $11.22bn as of April 23

Turkey's net FX reserves rise to $11.22bn as of April 23

Published 29 Apr, 2021 06:45pm
  • A week earlier the reserves - which have become the focus of the political opposition's criticism in recent weeks - had recovered from 18-year low and stood at $10.585 billion.
  • The exchange rate used by Reuters on Thursday was 8.2694 compared to 8.0567 the previous week.
Turkish central bank sees year-end inflation at 12pc, pledges tight policy

Turkish central bank sees year-end inflation at 12pc, pledges tight policy

Published 29 Apr, 2021 05:47pm
  • Kavcioglu sought in the presentation to convince economists that he would be as decisive as his predecessor, Naci Agbal, a respected policy hawk, in bringing down inflation to a 5% target over the next three years.
  • "We have given clear guidance ... saying that the policy rate will be above inflation and we will continue that," the governor said in a mostly prepared presentation. "We will continue the tight policy stance."
Turkish central bank holds rates, drops policy pledge under new chief

Turkish central bank holds rates, drops policy pledge under new chief

Published 15 Apr, 2021 06:02pm
  • In a statement, the bank also ditched last month's pledge to "decisively" maintain a tight monetary policy "for an extended period" to address inflation, which has risen above 16% and been in double-digits for most of the last four years.
  • The lira slipped as much as 0.7% to 8.125 versus the dollar after the bank under new governor Sahap Kavcioglu replaced the hawkish guidance with a softer assessment of risks to inflation that analysts said signalled interest rate cuts were on the way.
Turkey borrows $3.5bn in eurobond issue, demand more than $15bn

Turkey borrows $3.5bn in eurobond issue, demand more than $15bn

Published 20 Jan, 2021 06:46pm
  • The yield to investor on the 5-year tranche was 4.90%, while that on the 10-year tranche was 5.95%, the Treasury said.
  • The issues received demand from more than 300 investors, it said, adding that 35% was sold to investors from Britain.
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