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Banking, Economy

“Turkey’s central bank raises interest rate to 50% despite previous hints of end to hike cycle”

“Turkey’s central bank on Thursday raised its key interest rate, the one-week repurchase rate, from 45% to 50%, citing the continuing need to counter climbing inflation in the country… Turkish annual consumer price inflation soared to 67% in February, fueling concerns that… Continue Reading…

Banking, Economy

“Turkey’s central bank says inflation is set to hit 58% — more than double its previous estimate”

“Turkey’s central bank expects inflation to hit 58% by the end of 2023, its new governor Hafize Gaye Erkan said in her debut news conference Thursday, as she committed to “restore anchoring of expectations as well as predictability.” The new… Continue Reading…

Economy

“Jobless claims total 2.4 million, still elevated levels but a declining pace from previous weeks”

“First-time filings for unemployment insurance totaled 2.44 million last week as the tail effects of the coronavirus shutdown continued to impact the U.S. jobs market. Economists surveyed by Dow Jones had been looking for 2.4 million claims. The seasonally adjusted… Continue Reading…