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Turkey ends tightening cycle, keeps interest rate at 45 percent

Turkey's central bank maintained its key interest rate at 45 percent on Thursday, marking the end of its monetary tightening cycle after eight consecutive...
Business

Turkish-Russian trade faces fresh US sanctions threat: report

A US threat to hit financial firms doing business with Russia with sanctions has chilled Turkish-Russian trade, disrupting or slowing some payments for both...
Business

Turkey to keep rates steady at 45 percent as tightening cycle ends: Reuters poll

Turkey's central bank is expected to keep its key interest rate steady at 45 percent next week, after a 250 basis-point hike last month,...
Business

Turkey’s unemployment rate fell to 8.8 percent in December

Turkey's unemployment rate fell 0.1 percentage points month-on-month to 8.8 percent in December, data from the Turkish Statistical Institute (TurkStat) showed on Monday. The number...
Business

Turkey’s new central bank governor vows to continue work to tame inflation

The new governor of Turkey’s central bank has said efforts to get the country’s skyrocketing inflation under control will continue under his leadership while...
Business

Turkey’s inflation sees big monthly jump in January

Turkey's annual inflation rate stayed stable in January at nearly 65 percent, but month-on-month consumer price increases jumped sharply following a huge minimum wage...
Business

Turkey’s central bank governor resigns, citing ‘character assassination’ campaign against her

Turkish Central Bank Governor Hafize Gaye Erkan, the first woman to hold that position in Turkey, has announced her resignation, citing an ongoing “character...
Business

Turks see high cost of living as country’s primary concern: survey

An overwhelming majority of Turks see the high cost of living as the country’s most pressing issue, according to the results of a recent...
Business

Turkey’s tourism revenue surged in 2023, reaching $54.3 billion: TurkStat

Turkey's tourism revenue skyrocketed in 2023, reaching a record high of $54.3 billion with an increase of 17 percent over the previous year, according...
Business

Turkey’s income distribution gap widened in 2023

The portion of total income going to the wealthiest 20 percent of the population in Turkey increased to 49.8 percent, local media reported on...
Business

Turkey’s central bank lifts key interest rate one last time to 45 percent

Turkey's central bank on Thursday delivered what it said was the final interest rate hike of a historic tightening cycle that more than quintupled...
Business

Erdoğan to take economic measures against Israel over Hamas war: report

Turkish President Recep Tayyip Erdoğan is considering imposing economic sanctions on Israel due to its ongoing attacks on Gaza, which have claimed the lives...
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