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.
In a client note titled “Uncertainty Likely to Ease”, the U.S. investment bank provided an assessment of the Turkish economy.
The report acknowledged that political uncertainty caused fluctuations in Turkish markets last week, but added that this uncertainty is expected to ease and the inflationary effect has so far remained limited.
It noted that domestic demand for foreign currency remains low and is largely driven by companies with existing foreign exchange liabilities.
“The economic administration in Türkiye is still in place and is keeping the situation under control,” the report stated.
“Policymakers we met during our visit to Türkiye expressed strong determination to restore stability and continue the disinflation programme. Despite recent developments, political support for the programme remains in place. Our impression is that they have a clear roadmap and have already taken steps to stabilise the markets.”
The BofA report concluded: “If political uncertainty dissipates as we expect, the inflationary impact of the shock will be limited.”
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The Kremlin says it is optimistic about talks between Russian President Vladimir Putin and Azerbaijani President Ilham Aliyev, due to take place in Dushanbe on Wednesday — their first full meeting in a year.
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Authorities in California have identified the dismembered body discovered in a Tesla registered to singer D4vd as 15-year-old Celeste Rivas Hernandez, who had been missing from Lake Elsinore since April 2024.
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Start your day informed with AnewZ Morning Brief: here are the top news stories for the 9th of October, covering the latest developments you need to know.
Russia’s central bank has ruled the state violated minority shareholders’ rights in seized assets, signalling rare pushback against nationalisation.
A newly elected German mayor survived multiple stab wounds in a family attack.
Cristiano Ronaldo has become football’s first billionaire player, according to Bloomberg, which tracks the world’s richest individuals.
Germany has ended its fast-track citizenship programme, reflecting a shift in public attitudes toward migration and integration.
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