Turkey

Turkish lira rallies as traders buy into expectations of rate rise

Will Conroy in Prague September 7, 2018

Analysts, however, warn of a false dawn, pointing out political pressure could limit the central bank’s room for manoeuvre.

Blair to lobby Salvini for TAP pipeline completion

bne IntelliNews September 4, 2018

Environmental objections in Italy pose threat to last leg of Southern Gas Corridor designed to deliver Azerbaijani gas to EU.

Tanking lira drives Turkey’s inflation to 17.9% in August

Will Conroy in Prague September 3, 2018

Central bank says it is set to adjust its monetary stance, but market consensus is that it will not deliver the required radical rate hike given political pressure.

Turkey confirms contraction in July foreign trade gap at 33% y/y

bne IntelliNews August 30, 2018

Data underlines acceleration in the pace of the rebalancing seen in the crisis-hit Turkish economy.

Turkey’s economic confidence index dives 9% m/m to lowest level since 2009

bne IntelliNews August 30, 2018

"Remarkable and simply dreadful print. Clear evidence now of a very hard landing in Turkey," says analyst.

Capital: Turkey entering a steep recession

Will Conroy in Prague August 30, 2018

Economy set to contract 2-4% in Q4 says report as lira’s plunge accelerates past 6.75 to the dollar.

Moody’s downgrades Turkish lenders and corporates, lira slides past 6.40

Akin Nazli in Belgrade August 29, 2018

Downgrades primarily reflect substantial rise in risk of a downside scenario, where a further negative shift in investor sentiment could lead to a curtailing of wholesale funding.

“Turkey pretty much untradable” says BlueBay

bne IntelliNews August 28, 2018

Investors badly need some clarity on economic policy moving ahead concludes analyst as lira resumes its slide.

Turkish government's gross debt stock grows 24% y/y in July, highest growth since 2003

bne IntelliNews August 27, 2018

Sum has expanded since start of year, now stands at TRY1.01tn.

Business confidence sours in Turkey, index turns negative in August

bne IntelliNews August 27, 2018

With analysts warning that a recession is ahead, sentiment falls to the lowest level seen in four and a half years.

Turkish lira off to a stomach-churning start after holiday

bne IntelliNews August 27, 2018

With political and economic challenges far from resolved, currency loses more than 3% by late afternoon.

How bad has August's EM sell off been?

Ben Aris in Berlin August 24, 2018

Analyst says it’s still “very early to gauge whether there has been an economic hit” although indicators suggest financial conditions haven’t tightened to anywhere near degree they did during 2013 “Taper Tantrum”.

Third of Turkey’s GDP ‘may be wiped out by recession’

bne IntelliNews August 21, 2018

As economic turmoil takes a heavy toll, gunshots are fired at US embassy and Erdogan says outside forces are trying to bring the “Turkish people to their knees”.

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