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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Kyiv has received $1.5 billion in commitments from European partners to purchase U.S.-made weapons, Ukrainian President Volodymyr Zelenskiy said on Thursday, describing the NATO mechanism enabling the deal as one that “truly strengthens our defence.”
Ukrainian President Volodymyr Zelenskyy will meet British Prime Minister Keir Starmer in London on Thursday, a day before U.S. President Donald Trump holds talks with Russian President Vladimir Putin in Alaska.
A major forest fire in northern Morocco is now largely under control, though efforts to fully extinguish it are still underway, the national water and forests agency (ANEF) said on Wednesday.
Former Hollywood producer Harvey Weinstein may be sentenced in New York on 30 September, depending on whether prosecutors move ahead with a retrial over an unresolved rape allegation.
The world’s biggest dance music festival faces an unexpected setback as a fire destroys its main stage, prompting a last-minute response from organisers determined to keep the party alive in Boom, Belgium.
A powerful eruption at Japan’s Shinmoedake volcano sent an ash plume more than 3,000 metres high on Sunday morning, prompting safety warnings from authorities.
According to the German Research Centre for Geosciences (GFZ), a magnitude 5.7 earthquake struck the Oaxaca region of Mexico on Saturday.
A resumption of Iraq’s Kurdish oil exports is not expected in the near term, sources familiar with the matter said on Friday, despite an announcement by Iraq’s federal government a day earlier stating that shipments would resume immediately.
A magnitude 5.2 earthquake struck 56 kilometres east of Gorgan in northern Iran early Sunday morning, according to preliminary seismic data.
Kyiv has received $1.5 billion in commitments from European partners to purchase U.S.-made weapons, Ukrainian President Volodymyr Zelenskiy said on Thursday, describing the NATO mechanism enabling the deal as one that “truly strengthens our defence.”
Ukrainian President Volodymyr Zelenskyy will meet British Prime Minister Keir Starmer in London on Thursday, a day before U.S. President Donald Trump holds talks with Russian President Vladimir Putin in Alaska.
A major forest fire in northern Morocco is now largely under control, though efforts to fully extinguish it are still underway, the national water and forests agency (ANEF) said on Wednesday.
Supporters of the ruling Serbian Progressive Party (SNS) threw flares and firecrackers at anti-government protesters in Novi Sad on Wednesday evening, according to Reuters, prompting police to intervene to end the standoff, a major escalation of nine-month-long protests in Serbia.
Start your day informed with AnewZ Morning Brief: here are the top news stories for the 14th of August, covering the latest developments you need to know.
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