Economy of the Ottoman Empire
Turkey central bank stuns market with 500-point rate hike to 50%
Turkey's central bank unexpectedly raised interest rates by 500 basis points to 50% on Thursday, citing a deteriorating inflation outlook and pledged to tighten further if significant and persistent deterioration in inflation is foreseen.
Türkiye on track for investment grade rating, says Pimco
Pimco has been wading into Türkiye's bond market, betting that President Recep Tayyip Erdoğan's commitment to a sweeping economic overhaul has set the country on a path to regaining its investment grade credit rating, the Financial Times has reported.
The Turkish Lira fell below a Record: 27 to the Dollar
The Turkish currency started losing its value against the dollar again today and fell to a record low, local media reported.
The Turkish lira traded today at 27.01 per US dollar.
In recent days, the euro was exchanged for 29.60 TRY.
The Turkish Lira hit a New Record Low
The Turkish lira, which fell today by more than five percent, hit a new historic low against the dollar ten days after the re-election of President Recep Tayyip Erdogan, reported AFP.
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Turkish lira teeters near record low as Erdogan secures victory
Turkey's lira wobbled near record lows against the dollar as President Tayyip Erdogan secured victory in the country's presidential election on Sunday, extending his increasingly authoritarian rule into a third decade.
The currency was at 20.05 to the dollar during Asian hours, just shy of the 20.06 record low hit on Friday.
Turkey Acts to Limit Rent Increases Amid Soaring Inflation
Buildings in Istanbul. Photo: Pixabay/btastinkaya
According to the new regulation, rent price hikes will be limited to 25 per cent until July 2023.
"Rents can only be increased by 25 per cent. We tried to protect the rights of both tenants and landlords," Turkish Justice Minister Bekir Bozdag told reporters before the parliamentary vote on Wednesday.
A Stable Lira Rate probably helped Turkey to near Inflation Peak
Domestic tourism spending leaped 80 pct last year
Domestic tourism spending increased by 80.2 percent from the previous year to reach 58.1 billion Turkish Liras ($3.9 billion), data from the Turkish Statistical Institute (TÜİK) have shown.
Total spending domestic travelers made stood at 32.3 billion liras.
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Property sales abroad deemed service exports: Official Gazette
The Turkish government will provide substantial financial support to property companies for promotion activities abroad, according to a presidential decree published in the Official Gazette on April 22.
Marketing Turkish properties have been classified as "service exports," the decree said.
Transport, water prices hiked in Istanbul
Public transport prices, including buses and taxis, have been hiked by 40 percent, while water prices have been increased by 29 percent in Istanbul.
The Istanbul Metropolitan Municipality's Transportation Coordination Center (UKOME) met on April 6 to set new prices for the city's public transport.
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