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It was a bid to stabilise the lira. Bank deposit and credit rates have already risen sharply, and credit growth has virtually halted. As Turkey’s economic crisis takes hold, the…
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DOI: 10.1108/OXAN-DB238519
ISSN: 2633-304X
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As state-owned banks apparently intervene to support the lira, the Treasury and Finance Ministry has proposed issuing domestic bonds with yields linked to the revenues of state…
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DOI: 10.1108/OXAN-DB270779
ISSN: 2633-304X
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The Eleventh Development Plan for 2019-23.
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DOI: 10.1108/OXAN-DB230033
ISSN: 2633-304X
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Prospects for Turkey to end-2022.
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DOI: 10.1108/OXAN-DB270739
ISSN: 2633-304X
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Having partly restored its inflation-fighting credibility by maintaining an exceptionally tight monetary stance since its decision last September to raise its benchmark rate to a…
Prospects for Turkey in 2020.
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DOI: 10.1108/OXAN-DB247765
ISSN: 2633-304X
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Prospects for Turkey to end-2020.
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DOI: 10.1108/OXAN-DB253292
ISSN: 2633-304X
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The lira’s collapse has only fortified President Recep Tayyip Erdogan’s adherence to unorthodox low-interest-rate policies. Rather than changing course, Erdogan has publicly…
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DOI: 10.1108/OXAN-DB266151
ISSN: 2633-304X
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The TCMB has responded quickly to a new wave of lira volatility ahead of local elections, forcing banks to borrow at the overnight rate of 25.5% instead of the 24.0% policy rate…
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DOI: 10.1108/OXAN-DB242769
ISSN: 2633-304X
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It has fallen from about 6.50 at end-March and 5.95 at end-2019. There is speculation about a possible balance of payments crisis due to the COVID-19 pandemic, economic…