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.”
When the rules no longer protect you, you must protect yourself,” Canadian Prime Minister Mark Carney said in Davos on Tuesday (20 January), a speec...
President Donald Trump said on Thursday that the United States has an "armada" heading toward Iran but hoped he would not have to use it, as he renewe...
U.S. President Donald Trump said on Thursday that the United States intends to bid to host the World Expo 2035, backing Miami, Florida, as the propose...
United Nations agencies have taken over the management of vast detention camps in northeastern Syria housing tens of thousands of people associated wi...
Turkish President Recep Tayyip Erdoğan has told his Iranian counterpart Masoud Pezeshkian that Türkiye opposes any form of foreign intervention in I...
When the rules no longer protect you, you must protect yourself,” Canadian Prime Minister Mark Carney said in Davos on Tuesday (20 January), a speech that resonated at home and heightened tensions with U.S. President Donald Trump, who later withdrew Canada’s invitation to the Board of Peace.
President Donald Trump said on Thursday that the United States has an "armada" heading toward Iran but hoped he would not have to use it, as he renewed warnings to Tehran against killing protesters or restarting its nuclear programme.
U.S. President Donald Trump said on Thursday that the United States intends to bid to host the World Expo 2035, backing Miami, Florida, as the proposed host city and promising major economic benefits if the bid is successful.
United Nations agencies have taken over the management of vast detention camps in northeastern Syria housing tens of thousands of people associated with Islamic State (IS), after Kurdish-led forces guarding the sites withdrew amid clashes with Syrian government troops.
Qarabağ claimed a late 3–2 victory over Eintracht Frankfurt in the UEFA Champions League on Wednesday night, scoring deep into stoppage time to secure a dramatic home win in Baku.
Russian President Vladimir Putin said on Wednesday that Moscow could pay $1 billion from Russian assets frozen abroad to secure permanent membership in President Donald Trump’s proposed ‘Board of Peace’.
“I’m seeking immediate negotiations to once again discuss the acquisition of Greenland by the U.S.,” US President Donald Trump told the World Economic Forum. During his Wednesday (21 January) address, he once more cited national security concerns as the reason for wanting to own the Arctic island.
A commuter train collided with a construction crane in southeastern Spain on Thursday (22 January), injuring several passengers, days after a high-speed rail disaster in Andalusia killed at least 43 people.
President Donald Trump says he has agreed a "framework" for a Greenland deal with NATO.
When the rules no longer protect you, you must protect yourself,” Canadian Prime Minister Mark Carney said in Davos on Tuesday (20 January), a speech that resonated at home and heightened tensions with U.S. President Donald Trump, who later withdrew Canada’s invitation to the Board of Peace.
President Donald Trump said on Thursday that the United States has an "armada" heading toward Iran but hoped he would not have to use it, as he renewed warnings to Tehran against killing protesters or restarting its nuclear programme.
U.S. President Donald Trump said on Thursday that the United States intends to bid to host the World Expo 2035, backing Miami, Florida, as the proposed host city and promising major economic benefits if the bid is successful.
Turkish President Recep Tayyip Erdoğan has told his Iranian counterpart Masoud Pezeshkian that Türkiye opposes any form of foreign intervention in Iran, as protests and economic pressures continue to fuel tensions in the Islamic republic.
Vice President JD Vance delivered a broad defence of the thousands of federal agents leading an aggressive immigration enforcement operation in Minneapolis, saying that "far-left agitators" and uncooperative local officials are to blame for chaos on the streets.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment