Noticias de dinero

Turkish PMI November 2022

The ICI Manufacturing Purchasing Managers Index (PMI) stood at 45.7 in November, compared with 46.4 in October. The November result was the worst result since May 2020. Consequently, the index fell below the no-change threshold of 50.0, indicating a sharper deterioration in manufacturing conditions from the previous month. The November slump was driven by weaker

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Noticias de dinero

Turkish Monetary Policy, November 2022

The Central Bank of the Republic of Turkey (TCMB) lived up to expectations at its November 24 meeting by cutting its rate by 150 basis points, bringing the weekly repo rate down to 9.00% from 10.50%. The move brought the rate to President Erdogan’s year-end target of single digits, and the Bank said it was

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Global

Fears grow over Turkish ground offensive in northern Syria

Syrian Kurds took to the streets of the city of Qamishli in the far north of the country, on the border with Turkey. They are concerned that Ankara, which has already occupied many Kurdish-majority areas in northern Syria, might launch another ground military operation in the area. Indeed, Turkish President Recep Tayyip Erdogan on Friday

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Noticias de dinero

Turkish Business Confidence November 2022

Business confidence fell to 97.9 in November from 100.3 in October. The November result was the lowest since June 2020 and pushed the index below the 100th threshold, indicating a deterioration in business sentiment. The fall was driven by a more pessimistic view of production over the next three months and the backlog of orders

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Noticias de dinero

Turkish Monetary Policy, October 2022

The Central Bank of the Republic of Turkey (TCMB) surprised market analysts by delivering a larger-than-expected 150 bps rate cut, bringing the weekly repo rate down from 12.00% to 10.50% at its October 20 meeting. The decision pushed real interest rates further into negative territory, but brought the weekly repo rate closer to President Erdogan’s

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