Big increase by central bank ahead of local elections takes investors by surprise
Equities gain 20% in dollar terms as hot inflation again pushes savers into shares
Finance minister Mehmet Şimşek has emerged as a key source of stability
Issuance comes days after departure of central bank chief who had taken hawkish approach to high inflation
Respected economist Fatih Karahan takes reins after Hafize Gaye Erkan’s sudden exit
A target of low double-digit percentage price growth will do
Former governor Hafize Gaye Erkan was an architect of the shift towards more conventional policies
Hafize Gaye Erkan, an architect of the shift towards more conventional policies, replaced by her deputy Fatih Karahan
Policymakers signal rising borrowing costs are over as country’s prolonged inflation crisis is expected to start easing this year
Fund manager bets on economic reforms by buying lira-denominated bonds
Sellers are cutting prices for big-ticket products once seen as a financial refuge from high inflation
Sharp increase before mayoral elections will offer households relief but also complicate efforts to control inflation
Sharp rise in interest rates has piqued interest of overseas fund managers after years of selling
Growth in shipments of restricted parts fuels western suspicions that Turkish companies are conduit for Moscow
Also in this newsletter: How Poland’s president is delaying Donald Tusk’s premiership
Deal comes as country slowly ‘claws back’ investors’ trust following general election in May
Republican People’s party must decide whether to retain defeated presidential candidate Kemal Kılıçdaroğlu
Turkey-based Arçelik fears high energy prices and rising borrowing costs will weigh on consumers
Central bank’s efforts to bring down inflation could be complicated by any escalation of Israel-Hamas conflict
Since re-election, the president appears to have abandoned his unconventional ideas. But investors remain cautious
Mehmet Şimşek claims Erdoğan has thrown ‘support and commitment’ behind recent interest rate increases
Central bank lifts borrowing costs to 30% as part of efforts to tackle high inflation
VakifBank bond and Ebebek IPO show overseas funds willing to test waters after deserting country in recent years
President vows to use ‘tight monetary policy’ in sharp about-turn
GDP growth of 3.8% beats forecasts on back of post-earthquake reconstruction and credit-fuelled consumption
