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Lira plunges again after Erdoğan cites Islam to defend rate cuts

Turkey's troubled lira nosedived Monday after President Recep Tayyip Erdoğan cited Muslim teachings to justify not raising interest rates to stabilize the currency, Agence...

Annual Turkish inflation surges to 21.31 percent in November: official data

Turkey's annual inflation rate jumped over 20 percent in November, official data showed Friday, after a currency crisis last month when the Turkish lira...

Turkey’s finance minister calls it quits amid record lira depreciation

Turkey’s Finance Minister Lütfi Elvan has submitted his resignation, which was accepted by the country’s president, according to a decision published in the Official...

Erdoğan sticks to his guns on inflation as lira tumbles

Turkish President Recep Tayyip Erdoğan on Tuesday again rejected the idea of raising interest rates to shore up the nation's currency, which has slumped...

Lira crisis gives Turkish opposition chance to challenge Erdoğan

Turkey's currency crisis has cut into the popularity of President Recep Tayyip Erdoğan, handing the opposition a golden opportunity to finally challenge the long-time...

Senior central bank executive resigns as Turkish lira plunges to 13 against dollar

Doruk Küçüksaraç, who has served as director of the markets department for the Turkish Central Bank since August 2019, resigned on Tuesday after the...

Turkey economy grew 7.4 percent in Q3, boosted by demand and exports

Turkey's economy grew 7.4 percent year-on-year in the third quarter, meeting expectations on the strength of retail demand, manufacturing and exports, official data showed...

Erdoğan doubles down on low interest rates despite lira fall

Turkey's President Recep Tayyip Erdoğan vowed "no compromise" on low interest rates in comments published by Turkish media on Monday, despite a currency crisis,...

[OPINION] Turkey’s dollar-rich ruling elites profit as lira plummets

Türkmen Terzi The Turkish lira plummeted to a record low on Tuesday, losing 15 percent of its value and exceeding 13 to the US dollar,...

Turkish police detain 87 people protesting soaring cost of living

Police officers have intervened in demonstrations protesting the rapidly rising cost of living in Turkey caused by a steep fall in the value of...

Central bank increases Turkey’s 2021 inflation forecast as lira weakens

Turkey’s central bank raised its inflation projections for the end of this year with the lira trading just shy of record lows after rate-cut...

Speculation over possible Albayrak return sends lira tumbling

Turkey's lira tumbled on Thursday after a rally triggered by a shakeup of the economy team in November as the government again defended the...

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