Financial crises

Bulgaria: There is No Bubble in the Real Estate Market. For Now

There is no bubble in the real estate market in Bulgaria yet, but obviously, the number of deals and house prices will continue to rise. This was summed up by experts during a discussion on real estate in Bulgaria. The reason for this is the large savings of the population, low-interest rates on loans and the desire to buy a better property.

Central Bank cuts benchmark rate to 15 pct

The Turkish Central Bank on Nov. 18 cut its benchmark one-week repo rate by 100 basis points from 16 percent to 15 percent in line with market expectations.

At its 11th Monetary Policy Committee meeting this year, the bank said recent increases in inflation had been driven by supply-side factors such as rising food and import prices, especially in energy, and supply constraints.

S&P affirms Turkey's credit rating, outlook stable

S&P on Oct. 22 affirmed Turkey's long-term foreign currency rating at "B+" and long-term local currency rating at "BB-," with a stable outlook.

The stable outlook considers the risks from Turkey's economic imbalances, but these are partly offset by the resilience of Turkey's private sector and the manageable stock of net general government debt, the global rating agency said.

Systemic risks to financial stability improving but remain elevated

Ljubljana – The general gravity of systemic risks to financial stability has been reduced as the economy has rebounded, but there are elevated risks stemming from the housing market and the long-term profitability of banks, according to the central bank’s latest Financial Stability Review.

Turkey's annual inflation rises in September

Turkey's annual inflation rate climbed in September compared to the previous month, the Turkish Statistical Institute (TÜİK) announced on Oct. 4.

Consumer prices rose 19.58% year-on-year last month, from 19.25% in August, TÜİK said.

The figure, however, was lower than market expectations as a group of 16 economists projected an average annual climb of 19.69%.