Turkey
Emerging markets Argentina and Turkey: mission impossible?
High international debt exposures, large deficits and institutional frailty have fuelled capital outflows, weaker currencies and soaring inflation in Argentina and Turkey. Does the US Fed’s pause give the EM central banks reason for hope?
The IFF China Report 2019
Insight and perspectives from the world's leaders, premier policy-makers and financiers
CBRT spooks markets by dropping tightening wording
Lira falls as central bank takes rate hike off the table
The IFF China Report 2019: The Belt and Road Initiative
Over the past five years, China has invested more than $70 billion in Belt and Road Initiative (BRI) countries, of which there are now in excess of 100. Leading Chinese and international policy-makers explain how BRI efforts are progressing. This section…
The IFF China Report 2019: Redesigning the international trading and monetary system
Reform of the financial system that brought about the 2007–08 financial crisis has not gone far enough and advanced and emerging market economies must find a more co-operative way forward to ensure globalisation can continue.
An international system for all
Reform of the system that brought about the financial crisis in 2007–08 has not gone far enough, writes Zhu Xian, IFF vice-chairman and vice-president of the New Development Bank. Developing countries are demanding greater influence in global economic…
Turkish lira depreciates as reserves fall sharply
Forex reserves have fallen by 8% in first three weeks of March, according to central bank data
Turkey acknowledges reserves build-up necessary to stabilise lira
Currency plummeted on March 22 on weak global economic data
Turkey’s monetary policy will depend on fiscal caution, central bank says
Minutes say MPC could further tighten policy if the government fails to deliver on promises
CBRT cuts reserve requirements, but stresses tight stance
Liquidity tools are more about transmission than policy stance, says Murat Çetinkaya
Turkish central bank sees inflation outlook improving
Inflation undershot forecasts in latest period, having overshot them earlier in 2018
Turkish central bank makes early payout to government
Extraordinary general meeting sees CBRT agree to similar actions in future
CBRT holds main rate steady at 24%
Turkish central bank keeps rates high as signs emerge of a “rebalancing trend” in the economy
Turkish central bank to hold extraordinary general meeting
January meeting likely to see early profit distribution to government, ahead of local elections
Lower oil prices and stronger lira send Turkey and Argentina diverging
In 2019, analysts expect inflation to drop sharply in Argentina and to bounce back in Turkey
Turkish inflation falls for first time since March
Currency has begun recovery after reaching record lows against dollar in August
Reducing central bank independence harms economies, Poloz warns
Turkish and Argentinian governments part of “worrying” trend, Canadian governor says
CBRT ups inflation forecast 10 percentage points
Leap in forecast reflects dramatic overshooting due to lira weakness
Turkish central bank on hold as lira finds support
Central bank holds main rate in first decision after September’s aggressive tightening action
IMF calls for fiscal consolidation in anticipation of next crisis
As global financial conditions tighten, emerging economies record higher corporate and sovereign debt
Turkey reinforces monetary tightening with fiscal caution
New economic plan considered appropriate by analysts, but currency instability remains
Erdoğan takes control of Turkey’s SWF
Fund was created in 2016 and holds assets of key national companies
Lira rallies as CBRT hikes main rate
Currency stages modest recovery, as central bank follows through on promised action
Which emerging markets are in the firing line?
Some instability from Turkey and Argentina has spilled elsewhere, but not all emerging markets are under threat