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.”
Before becoming Pope Leo XIV, Cardinal Robert Prevost shared rare insights on faith, unity, and modern challenges in a few candid interviews.
A humanitarian ship carrying 20,000 tons of Ukrainian wheat docked in Samsun, Türkiye, on Thursday, marking a major World Food Program initiative to supply crisis-hit regions, including Syria.
North Korea’s leader Kim Jong Un supervised a missile test on Thursday, emphasizing the nation's nuclear combat readiness, according to state media KCNA.
EU foreign ministers will visit Lviv, Ukraine, on May 9 to discuss defense support and endorse plans for a tribunal on war crimes and aggression.
The election of U.S. Cardinal Robert Prevost as Pope Leo XIV has drawn an emotional response from clergy and laity across the globe, celebrating his historic rise as the first American to lead the Catholic Church.
Britain's King Charles has called on the world to work toward lasting peace and preventing future wars during a speech marking the end of four days of events celebrating the 80th anniversary of Victory in Europe (VE) Day.
Before becoming Pope Leo XIV, Cardinal Robert Prevost shared rare insights on faith, unity, and modern challenges in a few candid interviews.
A humanitarian ship carrying 20,000 tons of Ukrainian wheat docked in Samsun, Türkiye, on Thursday, marking a major World Food Program initiative to supply crisis-hit regions, including Syria.
North Korea’s leader Kim Jong Un supervised a missile test on Thursday, emphasizing the nation's nuclear combat readiness, according to state media KCNA.
EU foreign ministers will visit Lviv, Ukraine, on May 9 to discuss defense support and endorse plans for a tribunal on war crimes and aggression.
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Discover every major VE Day 80 event in Britain, 5‑8 May 2025—from London’s parade and fly‑past to street parties, concerts and museum exhibitions.
For the first time in history, an American has been chosen to lead the Catholic Church, as Cardinal Robert Prevost is named pope.
Chinese e-commerce platform Temu has announced it will no longer sell goods directly from China to U.S. customers, shifting instead to U.S.-based sellers amid the closure of a long-criticized customs loophole.
Cardinals from 70 nations have gathered in Vatican City to begin the historic conclave to elect the next pope, following the death of Pope Francis 17 days ago. This conclave is the most geographically diverse in Church history, showcasing Francis’ legacy of inclusivity.
Britain's King Charles has called on the world to work toward lasting peace and preventing future wars during a speech marking the end of four days of events celebrating the 80th anniversary of Victory in Europe (VE) Day.
Before becoming Pope Leo XIV, Cardinal Robert Prevost shared rare insights on faith, unity, and modern challenges in a few candid interviews.
A humanitarian ship carrying 20,000 tons of Ukrainian wheat docked in Samsun, Türkiye, on Thursday, marking a major World Food Program initiative to supply crisis-hit regions, including Syria.
North Korea’s leader Kim Jong Un supervised a missile test on Thursday, emphasizing the nation's nuclear combat readiness, according to state media KCNA.
EU foreign ministers will visit Lviv, Ukraine, on May 9 to discuss defense support and endorse plans for a tribunal on war crimes and aggression.
Britain's King Charles has called on the world to work toward lasting peace and preventing future wars during a speech marking the end of four days of events celebrating the 80th anniversary of Victory in Europe (VE) Day.
Before becoming Pope Leo XIV, Cardinal Robert Prevost shared rare insights on faith, unity, and modern challenges in a few candid interviews.
A humanitarian ship carrying 20,000 tons of Ukrainian wheat docked in Samsun, Türkiye, on Thursday, marking a major World Food Program initiative to supply crisis-hit regions, including Syria.
North Korea’s leader Kim Jong Un supervised a missile test on Thursday, emphasizing the nation's nuclear combat readiness, according to state media KCNA.
EU foreign ministers will visit Lviv, Ukraine, on May 9 to discuss defense support and endorse plans for a tribunal on war crimes and aggression.
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