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.”
Pakistan has offered to host talks between the U.S. and Iran to bring an end to the conflict, while Lebanon has ordered the Iranian Ambassador to l...
Pakistan has offered to host talks between the U.S. and Iran to end the Gulf conflict, as tensions remain high des...
Hezbollah has pledged to defend the region against Israeli forces, warning it will resist any move to occupy southern Lebanon, as Israel sets out p...
Lebanon has expelled Iran’s ambassador and declared him persona non grata, ordering his departure by 29 March, as tensions surge across the M...
The Iranian Foreign Minister Abbas Araghchi has stated Tehran’s stand on the latest developments in the I...
Pakistan has offered to host talks between the U.S. and Iran to bring an end to the conflict, while Lebanon has ordered the Iranian Ambassador to leave the country. Meanwhile, oil prices continue rising as the fallout from the Middle East conflict continues.
Pakistan has offered to host talks between the U.S. and Iran to end the Gulf conflict, as tensions remain high despite reports of possible diplomacy and continued military strikes across the region.
Hezbollah has pledged to defend the region against Israeli forces, warning it will resist any move to occupy southern Lebanon, as Israel sets out plans to establish a buffer zone following its latest invasion.
Lebanon has expelled Iran’s ambassador and declared him persona non grata, ordering his departure by 29 March, as tensions surge across the Middle East following intensifying cross-border violence.
The pilot and co-pilot of an Air Canada Express regional jet were killed after it collided with a fire truck while landing at New York's LaGuardia airport late on Sunday, in an incident that closed the airport, authorities and U.S. media said.
Trump says U.S. found “major points of agreement” with Iran and has paused strikes on Iranian power plants, but Tehran denies any direct talks or negotiations, contradicting U.S. claims - latest on Middle East conflict.
Pakistan has offered to host talks between the U.S. and Iran to bring an end to the conflict, while Lebanon has ordered the Iranian Ambassador to leave the country. Meanwhile, oil prices continue rising as the fallout from the Middle East conflict continues.
Violent clashes broke out between police and opposition protesters in Tirana on Sunday (22 March) as demonstrators were demanding the resignation of the Albanian government following corruption allegations against the deputy prime minister.
FinaFinal results from Slovenia’s parliamentary elections indicate a near tie between the Slovenian Democratic Party (SDS) and the liberal Freedom Movement Slovenia (GS), leaving neither side with a clear path to power.
Eurozone private sector growth almost stalled this month, a key survey showed on Tuesday, adding to evidence that the bloc is already feeling economic fallout from the U.S. and Israeli war with Iran, with inflation rising and growth slowing.
China is raising domestic petrol and diesel prices under temporary measures to manage a sharp surge in global oil costs, aiming to support fuel suppliers while maintaining market stability during a period of heightened volatility.
Russia launched drones and missiles overnight on Tuesday at Ukraine, killing at least three people, damaging houses and triggering fires, Ukrainian officials said.
British Prime Minister Sir Keir Starmer said on Monday (23 March) that Britain must plan for the possibility that the Iran war could continue for some time, and added that he had no "meaningful concerns" about energy supply.
Australia and the European Union signed a trade deal on Tuesday that was eight years in the making, removing tariffs for almost all European goods and for nearly all exports of Australian critical minerals.
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