Economy of Northern Cyprus
Turkish Central Bank dismisses calls for tighter fiscal policy as lira continues its plunge
Turkey's central bank held rates steady at 19% as expected on Thursday and dropped a pledge to tighten policy further if needed, in its first decision since President Tayyip Erdogan fired the hawkish former governor and sparked a market selloff.
Turkish Police Tear Down Opposition Posters Questioning Bank Reserves
A CHP branch with a poster asking: "Where are 128 billion dollars?" Photo: CHP Silivri Branch
The CHP has been organising a campaign about the fate the Turkish Central Bank reserves on social media and later put up the banners on its buildings and billboards.
CHP leader urges government to create more employment
Main opposition Republican People's Party (CHP) leader Kemal Kılıçdaroğlu has urged the government to create employment for nearly 10 million unemployed people in Turkey, warning that this population could be a source of social problems over time.
UN appointment on Cyprus highly unfortunate: Turkey
Turkey on March 26 decried the appointment of a force commander to the U.N. Peacekeeping Force on Cyprus (UNFICYP).
Turkey has no payments, FX problems: Senior adviser
Turkey has adequate foreign exchange reserves to keep its financials healthy despite temporary volatility in the value of Turkish Lira and stocks after the Central Bank chief was replaced at the weekend, one of the senior presidential advisers said on March 23.
Turkey slaps $61mln penalty on Unilever for market abuse
The Turkish division of Unilever is being fined some 480 million lira ($61 million) for abusing its commanding position in the ice cream sector, Turkish authorities announced on March 22.
Turkish lira crashes after central banker sacked by Erdogan
The lira lost 17% of its value in the Asian markets
Turkey one of rare countries dodging COVID-19 with least damage: Erdoğan
Turkey has become one of the rare countries that have been able to dodge the pandemic with the least damage due to its effective health and economic policies, President Recep Tayyip Erdoğan has said, informing the government allocated 311 billion Turkish Lira to support Turkish people and economy during the COVID-19 pandemic.
Central Bank revises reserve requirements
Turkey's Central Bank on Feb. 24 revised its regulations on reserve requirements to improve the effectiveness of the monetary transmission mechanism in the country.
The bank increased Turkish lira reserve requirement ratios by 200 basis points- for all liability types and maturity brackets.
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Turkish lira hits highest value against US dollar in 6 months
The Turkish lira has continued its rally against the U.S. dollar on Feb. 15, hitting the highest value in the last six months, thanks to the country's pledge to open a new era in its economy.