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...Foreign fund managers have bought about $2bn in lira-denominated Turkish government bonds since the start of June, central bank data shows....
...Between March and June the terminal received just three shipments of oil by sea, from Israel, Egypt and Greece, according to ship tracking data from Kpler....
...Protection against a Turkish debt default, using tools known as credit default swaps, has become much cheaper since June....
...The Turkish central bank boosted interest rates from 8.5 per cent in June 2023, when a broad economic policy overhaul was launched, to 50 per cent last month, in an attempt to cool inflation....
...“The upgrade reflects increased confidence in the durability and effectiveness of policies implemented since the pivot in June 2023,” Fitch said on Friday....
...Sure enough, one incorrigible optimist has broken cover: Adam Neumann, co-founder of WeWork, the flexible office provider that went into Chapter 11 bankruptcy in the US last year....
...Policymakers had signalled in January that rates, which have increased by more than 36 percentage points since June, are unlikely to rise further barring a fresh surge of inflationary pressure....
...The pressures are pushing local and foreign institutional investors back to the Turkish equities market as a sweeping economic policy overhaul that began in June continues apace....
...the central bank had probably ended its cycle of rate increases, highlights the extent to which Turkey’s economic situation has worsened this year despite a sweeping policy overhaul that kicked off in June...
...Erkan, who was appointed in June as the central bank’s first female governor, said her resignation was for personal reasons, and the result of a “smear campaign” against her in the local media....
...Adam SamsonYeah....
...Those gains could propel the far-right Identity and Democracy (ID) group to third place in the European parliament elections in June....
...Erkan, who was appointed in June as the bank’s first female chief, will be replaced by deputy governor Fatih Karahan, according to Turkey’s official gazette....
...The central bank on Thursday boosted its one-week repo rate by 2.5 percentage points, in line with expectations and marking the eighth increase in borrowing costs since June....
...He is seen as one of the driving forces behind a pivot towards more conventional monetary policy that began after Erkan’s appointment as the central bank’s first female governor in June....
...He said he expected that the series of sharp interest rate rises pushed through by the central bank since June, which have brought the benchmark one-week repo rate from 8.5 per cent to 45 per cent, would...
...The central bank on Thursday boosted its benchmark one-week repo rate by 2.5 percentage points, in line with expectations and marking the eighth increase in borrowing costs since June....
...Prior to central bank chief Hafize Gaye Erkan’s appointment in June, the bank had set rates at just 8.5 per cent, as Turkish President Recep Tayyip Erdoğan had insisted on keeping borrowing costs at super...
...Turkish markets advanced on Monday on hopes that an economic overhaul programme that began in June will remain intact despite Erdoğan’s electoral setback....
...Turkey’s new economic management team, which was appointed in June, has launched a sweeping overhaul in policy to cool consumer demand for goods such as cars and tame inflation....
...The main policy rate has been increased from 8.5 per cent in June, and policymakers said that “the pace of monetary tightening will slow down and the tightening cycle will be completed in a short period...
...Turkey has lifted borrowing costs for the fourth time since June as the country steps up its campaign to tame inflation that is running at close to 60 per cent....
...The more upbeat sentiment comes after Turkey’s new economic management team, which was appointed in June, has abandoned years of unorthodox policies that ignited runaway inflation and other severe imbalances...
...The price of international crude benchmark Brent has jumped nearly 20 per cent to $88 a barrel since the start of June....
...The Turkish government also brought in June a criminal corruption case against İmamoğlu, which his lawyer has described as a “baseless” plot to force him out of politics....
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