Turkey Cuts Rates Again, Bonds Trade Weaker
Turkey’s central bank cut its one-week repo rate again on Thursday, this time by 100bp to 15% in line with the median estimate in a Bloomberg poll of 24 economists. This further underscores President Erdogan’s clout in pushing for cheaper borrowing costs...
Turkish Institutions have $8bn to Repay in November, Highest in the next 10 Months
Turkey’s corporates, banks and government have a combined $13bn in external debt due through November and December, of which $8bn is due in November. This is the largest amount due over the next 10 months as per Bloomberg data. Bloomberg notes that these...
Erdogan Fires Three Monetary Policy Members who were Vary of Low Rates
Turkish President Erdogan fired two Deputy Governors, Semih Tumen and Ugur Namik Kucuk, and another monetary policy member Abdullah Yavas after meeting central bank chief Sahap Kavcioglu. Bloomberg reports that the three members were opposed to his calls for lower...
