Sebnem Turhan

Nov 19, 2024 | trmonitor.net | Sebnem Turhan

For the real-valued TRY, the most important tool in the fight against inflation, the economy management has been on the defensive again against the globally rising dollar exchange rate. On the first trading day of the week, there was an outflow of approximately USD 3.5-4 billion from TRY, of which approximately USD 3 billion was foreigners, according to the calculations of market experts.

Sep 19, 2024 | trmonitor.net | Sebnem Turhan

The Turkish Central Bank postponed the market’s expectations for an interest rate cut with two major wording changes in the September MPC text, which also increased the comments that a rate cut may come in the last months of the year. The Monetary Policy Committee text, which clearly stated that there would be no more interest rate hikes, reiterated the tight and prudent stance. The MPC of the Central Bank announced its September decision.

Sep 16, 2024 | trmonitor.net | Sebnem Turhan

The fluctuating course in Borsa Istanbul since mid-May was also effective on the behavior of foreign investors. In May, the portfolio size of foreign investors in Turkish equities reached a historical peak of TRY 1,95 trillion, and although the peak was renewed in July, there was a decline in August. It declined to TRY 1,94 trillion in August.

Sep 9, 2024 | trmonitor.net | Sebnem Turhan

The slowdown in commercial loan growth in the last week of August was noteworthy. The main source of the slowdown is the halving of the commercial loan growth rate in private banks. Banking sector sources emphasized that there was no slowdown as indicated by the data, but this result may have emerged if loan closures took place in large corporate customers. The tight monetary policy implemented to fight inflation also aims to slow down commercial and consumer loans.

Sep 9, 2024 | trmonitor.net | Sebnem Turhan

Turkey’s changing economic and monetary policies following last year’s general elections have positively contributed to the foreign exchange open positions of both the public sector and companies and individuals. According to the calculations of QNB Finansbank economists, from June 2023 to June 2024, the public sector’s foreign exchange position deficit decreased by USD 143.4 billion to USD 186.4 billion.