Turkish Lira has lost more than 40 percent of its value against the US dollar this year, raising concerns that Turkey's economy, heavily reliant on foreign currency loans, could have a negative impact on other emerging markets. Turkey's currency has been under pressure due to rising diplomatic tensions with the US, President Erdogan's control...
Rates Unchanged At its latest rates setting meeting this week, the Central Bank of Republic of Turkey kept rates unchanged as expected, though the market was taken by surprise as the CBRT announces new monetary policy framework. At its May meeting the CBRT announced it was simplifying its monetary policy framework where its highly asymmetric co...
Image via World Economic Forum Amid the Easter celebrations on Sunday, investors were keeping a close watch on the unfolding events from Turkey as the nation went to polls on constitutional reforms. The event marked a turning point in the history of the country. President Recep Tayyip Erdogan's bid to push for constitutional reforms to give th...
Recep Tayyip Erdoğan, President of Turkey Focus Shifts Away from Europe & US While focus over the last year has mainly been on political events happening in Europe and America, there are important political events happening elsewhere that also require investor attention. One such event is the upcoming constitutional reform referendum b...
Pressure Builds On TRY The Turkish Lira (TRY) has been one of the worst-performing Emerging Market currencies over the last several months, even underperforming the Mexican Peso. Given the level of the decline, the market is increasingly expecting the Central Bank of the Republic of Turkey (CBRT) action, leading to a potential reversal in TRY d...
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