Türkiye's central bank held interest rates at 50% as expected but cautioned that recent data had lifted inflation uncertainty, in a hawkish signal ahead of an expected easing cycle in coming months.
The bank said in a statement released after the Monetary Policy Committee meeting on Oct. 17 that the tight monetary stance will be maintained until a significant and sustained decline in the underlying trend of monthly inflation is observed, and inflation expectations converge to the projected forecast range.
Analysts believe that the message could reinforce the view that the bank will wait until around January to ease monetary policy, after a more than year-long effort to slay years of soaring inflation.
The last time the bank raised its main policy rate was in March, when it hiked by 500 basis points to round off an aggressive tightening cycle that started in June last year. Since then, it has kept the one-week repo rate on hold.
In a change of messaging last month, it began setting the stage for a rate cut by dropping a reference to potential further tightening. Yet after monthly inflation was higher than expected at nearly 3% in September, a poll showed analysts expected the bank to wait until December or January to begin its anticipated easing cycle.
Russia is expanding Arctic cooperation with Türkiye, China, and India, securing foreign investment for the Northern Sea Route. Rosatom's chief highlighted ongoing projects, growing transit with China, and UAE-backed logistics hubs, positioning Russia as a key player in Arctic development.
Turkish President Recep Tayyip Erdogan has unveiled Türkiye’s 2030 Industry and Technology Strategy Document, outlining a comprehensive roadmap to boost the country’s technological independence and industrial strength.
Bank of America (BofA) said the recent volatility in Turkish markets has so far had only a limited inflationary impact, stressing that Türkiye’s economic management remains in control.
Turkish authorities detained Istanbul Mayor Ekrem İmamoğlu on Wednesday on charges including corruption, aiding a terrorist group, and leading a criminal organization. The Republican People’s Party (CHP) condemned the arrest, calling it politically motivated.
Turkey's lira fell as much as 12.7% and touched a new all-time low of 42 to the dollar on Wednesday, with bonds and stocks also tumbling sharply, after authorities detained President Tayyip Erdogan's main political rival.
A powerful 7.7-magnitude earthquake struck Myanmar’s Sagaing region, followed by a 6.4-magnitude tremor, killing more than 1,644 people and leaving 2,300 injured. The quake caused building collapses in Myanmar and Thailand, prompting emergency declarations and ongoing rescue efforts.
UN Secretary-General António Guterres responds to discussions on a potential temporary administration in Ukraine, reaffirming the presence of a legitimate government and clarifying the UN’s role in mediation efforts.
Suicide bomber targets a political protest rally in Balochistan, Pakistan. No civilian casualties reported; the attacker was killed.
The Norwegian Government has decided to provide a total of NOK 3 billion in humanitarian support to Ukraine and to the refugee response in Ukraine’s neighbouring countries in 2025.
Royal Australian Air Force (RAAF) pilots, monitoring a Chinese navy warship as it navigated Australian waters, were alerted to a live-fire exercise via a civilian radio broadcast, defense officials revealed on Tuesday.
A powerful 7.7-magnitude earthquake struck Myanmar’s Sagaing region, followed by a 6.4-magnitude tremor, killing more than 1,644 people and leaving 2,300 injured. The quake caused building collapses in Myanmar and Thailand, prompting emergency declarations and ongoing rescue efforts.
As the world shifts toward clean energy at an ever-accelerating pace, large economies are scrambling to secure reliable supply chains for rare earth minerals. These minerals, once seen as mere industrial components, have become a political tool in the global power struggle
Russian forces carried out a drone attack on Ukraine’s second-largest city, Kharkiv, late Wednesday, injuring at least twenty one people and causing structural damage, according to Ukrainian officials.
A devastating overnight drone attack on Kyiv, attributed to Russian forces, resulted in the deaths of three people, including a five-year-old child, and left ten others injured.
The "Colonialism: Erasure of Religious and National Identity" conference in Baku gathers leaders of independence movements and political prisoners' families to discuss the suppression of identity under colonial rule, global anti-colonial movements, and reparations.
As the world shifts toward clean energy at an ever-accelerating pace, large economies are scrambling to secure reliable supply chains for rare earth minerals. These minerals, once seen as mere industrial components, have become a political tool in the global power struggle
The Ministry of Foreign Affairs of Armenia hosted the presentation of the Armenian translation of the book by Iran's Foreign Minister Seyed Abbas Araqchi, titled "The Power of Negotiations: Principles and Rules of Political and Diplomatic Negotiations."
A powerful 7.7-magnitude earthquake struck Myanmar’s Sagaing region, followed by a 6.4-magnitude tremor, killing more than 1,644 people and leaving 2,300 injured. The quake caused building collapses in Myanmar and Thailand, prompting emergency declarations and ongoing rescue efforts.
UN Secretary-General António Guterres responds to discussions on a potential temporary administration in Ukraine, reaffirming the presence of a legitimate government and clarifying the UN’s role in mediation efforts.
Suicide bomber targets a political protest rally in Balochistan, Pakistan. No civilian casualties reported; the attacker was killed.
The Norwegian Government has decided to provide a total of NOK 3 billion in humanitarian support to Ukraine and to the refugee response in Ukraine’s neighbouring countries in 2025.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment