Connect with us


Turkish central banker warns of lower interest rates; The lira slips again to 10 against the euro




With Turkish inflation close to 20 percent, with 27 percent of the population unable to pay for necessities, the central bank has warned that it plans to cut interest rates.

The Turkish Lira dipped to 10.10 per euro on commentary, and is currently trading near 10 per euro. The lira lira has fallen 1.5% against the dollar and is trading around 8.45 at the time of writing. The USD / TRY record is 8.53.

Turkey’s central bank governor Sahap Kavcioglu told investors consumer prices are expected to fall in the coming months and the bank will now use “core” inflation – which is below 17% after excluded volatile items such as food and fuel – in future decisions.

Timothy Ash, analyst at BlueBay Asset Management in London, said Kavcioglus’ comments showed his promise to keep real interest rates positive meant nothing from a market perspective.

He’s obviously determined not to raise rates if he can get away with it in any way, and he will drop as soon as possible, he said in an email to clients.

President Recep Tayyip Erdogan is of course behind the announcement, as he recently made several remarks on “how low interest rates help reduce inflation”.

Erdoan faces re-election in 2023, saw his job approval rating drop during the Covid-19 pandemic, which has caused mass unemployment. He sees economic growth, regardless of the cost in economic well-being for the entire population, making it popular again.

Turkey’s central bank has repeatedly pledged to keep interest rates above the headline inflation rate, because currently interest rates are indeed negative. But using core inflation as the basis for interest rate decisions simply leaves out the things that fuel inflation in Turkey – food, above all, for which prices are at record highs, just like oil.

The central bank will then meet on interest rates on September 23.




The mention sources can contact us to remove/changing this article

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]netmarketingcompany.BizWebsite: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos


to request, modification Contact us at Here or [email protected]