Tugce Ozsoy
News Reporter at Bloomberg News
Bloomberg News reporter in Istanbul. Opinions are my own. RTs are not endorsements.
Articles
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6 days ago |
bloomberg.com | Beril Akman |Tugce Ozsoy
Fatih Karahan(Bloomberg) -- Turkey’s monetary chief defended the central bank’s decision to sell tens of billions of dollars of reserves to stabilize the lira in recent weeks, striking a defiant tone in the face of criticism from politicians. The moves were necessary to “avert excessive volatility in the exchange rate,” Governor Fatih Karahan said.
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2 weeks ago |
bloomberg.com | Tugce Ozsoy |Beril Akman
Turkish lira banknotes. Photographer: Moe Zoyari/Bloomberg(Bloomberg) -- The pressure on Turkey’s lira is showing early signs of easing, with the central bank pushing ahead with more aggressive tightening to provide a buffer from domestic political and global trade risks. The weighted average cost of funding from the central bank rose to its highest level this year — 48.8% as of Monday — according to the latest data compiled by Bloomberg.
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2 weeks ago |
bloomberg.com | Taylan Bilgic |Tugce Ozsoy
Turkish lira rates at an exchange bureau in Istanbul. (Bloomberg) -- S&P Global Ratings affirmed Turkey’s long-term foreign currency debt rating at BB-, and kept the outlook stable, while warning of risks to growth. Protests against the arrest of a leading opposition politician could prove to be a “long-term impediment to investor and household confidence, as well as currency stability and growth,” the credit ratings agency said in a scheduled review late on Friday.
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3 weeks ago |
news.bloombergtax.com | Beril Akman |Tugce Ozsoy
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3 weeks ago |
bloomberg.com | Beril Akman |Tugce Ozsoy
The waterfront in the Eminonu district of Istanbul. (Bloomberg) -- Turkey raised its main interest rate, a surprise move to reassure investors after domestic turmoil and US tariff uncertainty triggered a sell off in the lira. The Monetary Policy Committee hiked its one-week repo rate to 46% from 42.5%. Only three of 23 analysts surveyed by Bloomberg had predicted a hike — with Goldman Sachs Group Inc. and Istanbul-based Is Asset Management anticipating the precise increase.
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