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Its actions included floating the currency, which triggered a major devaluation, and a 600-basis point increase in its benchmark interest rate to 27.75%. Meanwhile, the government…
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DOI: 10.1108/OXAN-DB285730
ISSN: 2633-304X
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Despite dramatic depreciation of the lira since early March, the TCMB is likely to continue cutting its benchmark one-week repo rate, now at 8.75%, as it tries to mitigate the…
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DOI: 10.1108/OXAN-DB252635
ISSN: 2633-304X
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Geographic
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Throughout April, new cases have exceeded 40,000 per day. The surge, which followed the easing of containment measures in March, was the third and largest spike in COVID-19 cases…
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DOI: 10.1108/OXAN-DB261084
ISSN: 2633-304X
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Geographic
Topical
This followed the government’s decision to default, for the first time ever, on bonds maturing on March 9. There is a mounting controversy over whether to seek financial support…