The Central Bank of the Republic of Turkey (CBRT) raised the policy rate to 15 percent on June 22 after almost two years of low-interest rate policies The the Monetary Policy Committee (MPC) which held its first meeting under the chairmanship of Central Bank Governor Hafize Gaye Erkan, switched to a monetary tightening policy by
Turkish President Recep Tayyip Erdoğan said that the appointment of Mehmet Şimşek as Treasury Minister should not be contemplated as a change in his cabinet’s economic policies as the former minister’s re-appointment to the post raised the expectations of a shift in low interest rate policy of Erdoğan. However he added that they “accept the
With her exceptional education, extensive experience, and youthful dynamism, Hafize Gaye Erkan sparked enthusiasm at home as well as abroad by assuming crucial position in economic management as the new governor of the Central Bank (CBRT). However, she has come to this position at a crucial time when the Turkish economy is so fragile with
With the noticeable move to loosen government controls on foreign currency, combined with some uncertainty, the Turkish lira tumbled to record lows against the dollar, and one dollar skyrocketed to 23.22 on the evening of June 7. However, the rate had been just under 20 liras on the last working day before the election, while
On June 3, President Recep Tayyip Erdoğan first took the oath of office at the Turkish Grand National Assembly and began his third term as president after winning the elections on the second round on May 28. Then he laid flowers at the mausoleum of Mustafa Kemal Atatürk at Anıtkabir in the rain, and later,
With a victory on May 28 presidential run-off elections, President Erdoğan was re-elected as the president and won the right to form his cabinet to rule the executive branch in the following 5 years. On the morning of May 31, the value of the Turkish lira fell to an unprecedented low against the US dollar.
Turkish President Recep Tayyip Erdoğan was re-elected for his third term at the seat after the run-off elections on May 28. The ruling Justice and Development Party (AKP) leader Erdoğan received 52.14 percent of the votes, while his opponent and opposition’s candidate Republican People’s Party (CHP) leader Kemal Kılıçdaroğlu received 47.84 percent. The margin will
Türkiye is once again going to the polls on May 28 to elect its 13th president in the run-off elections amid the devastating effects of two major earthquakes, an economic crisis, increasing political polarization, and ballot-box security concerns. Some 64 million voters cast their ballots to choose between two candidates: President Recep Tayyip Erdoğan and
Two days before the critical run-off for the presidential elections in Türkiye, things got quite odd in the country. Two candidates of the second round of the elections, Republican People’s Party (CHP) leader and six party opposition alliance’s candidate Kemal Kılıçdaroğlu and President Recep Tayyip Erdoğan were on screens one day apart on May 24
One week to the critical second round of the Turkish presidential elections to be held on May 28, the third runner up Sinan Oğan has become the favorite subject of the commentators with his 5 percent votes. Following a series of meetings and statements, he said he will announce his endorsement for the runoff election