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Turkey expected to start cutting sky-high 50% interest rates in November
Turkey’s central bank has raised interest rates by 4,150 bps since June 2023
Startups are increasingly going bust as funding dries up
The number of startups closing their doors rose 58% y-o-y during 1Q 2024
Local trade offices see USD 11.6 bn in fresh foreign investment
Most of the funds are destined for the energy sector
Investors are piling into Turkish assets as the country’s reform program bears tentative fruit
TRY-denominated bonds have risen 6.3% since March’s rate hike — far outstripping the average 1.1% increase across similar emerging markets
Turkey could levy a tax on stocks
Treasury and Finance Minister Mehmet Simsek said the government is considering a “very limited” transaction tax
Today’s rate cuts could revive the EU’s economy, but the path forward is murky
Some wonder whether it would be a mistake for the ECB to diverge from the US Federal Reserve for the…
Turkey’s inflation hits 75.5% in what is believed to be the peak before a slowdown
The Turkish central bank has raised interest rates 41.5% since June 2023
Exports grew 5% y-o-y during 1Q 2024
The government is targeting exports worth USD 145 bn by 2030
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