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Turkish central bank slashes rates

Turkey’s central bank slashed its key interest rate by a more than expected 425 basis points to 19.75 percent Thursday to spur a recession-hit economy, its first step away from the emergency stance adopted during last year’s currency crisis.

Source: www.dailystar.com.lb

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Turkish Central Bank takes step to increase liquidity

The Central Bank of the Republic of Turkey (CBRT) on Saturday lowered reserve requirement ratios to provide more liquidity in domestic markets. Turkish lira reserve requirement ratios have been reduced by 100 basis points for deposits and participation funds with maturities up to 1-year, and for other liabilities with maturities up to (and including) 3-year.

Source: www.turkiyenewspaper.com

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Turkish Central Bank keeps interest rates unchanged – Turkish Minute

Turkey’s central bank on Wednesday ruled to keep its one-week repo rate — also known as the policy rate — constant at 24 percent, the state-run Anadolu news agency reported. The decision came in a statement from the bank’s Monetary Policy Committee (PPK),

Source: www.turkishminute.com

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Turkey receives $9.2B in foreign investment in 10-month

Turkey received $9.16 billion in net foreign direct investment from January to October 2018, the Industry and Technology Ministry announced on Thursday.

Source: www.thedailyturkish.com

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Turkish central bank on hold as lira finds support

Central bank holds main rate in first decision after September’s aggressive tightening action. The Central Bank of the Republic of Turkey (CBRT) chose to keep its headline rate on hold today (October 25), as the Turkish economy finds a measure of stability. The decision to hold the one-week repo rate constant at 24% was in line with analysts’

Source: www.centralbanking.com

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Turkey Relaxes Ban on Foreign Currencies for Business Agreements

Turkey announced on Saturday that it is relaxing its ban on using foreign currencies, with the country announcing exemptions for business agreements.

Source: www.financemagnates.com

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Turkish banking sector posts over $6B net profit in H1

The total net profit of the Turkish banking sector hit 28.9 billion Turkish liras ($6.34 billion) in the first half of 2018, according to the Banking Regulation and Supervision Agency (BDDK) on Monday.

In the six-month period, the banking sector’s net profit saw an annual hike of 13.8 percent, up from net profit of 25.4 billion Turkish liras ($7.24 billion) in January-June last year.

Source: www.aa.com.tr

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Bahrain’s Bank Alkhair sells stake in Turkish investment firm

Bahrain’s Bank Alkhair has sold its majority stake in Turkish investment firm Alkhair Capital a decade after it entered the market, as the Islamic lender streamlines its business lines and exits some markets. The lender received approval to transfer its 95.79 per cent shareholding of Alkhair Capital to Ankara-based A1 Capital, according to a filing with Turkey’s capital market regulator. It did not disclose a value of the transaction.

Source: gulfbusiness.com

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HSBC to invest $15-17 billion by 2020 as strategy pivots to growth

HSBC will invest $15-17 billion in the next three years in areas including technology and its core Asian markets of Hong Kong and China as it swings from a strategy of cost-cutting to growth, new Chief Executive John Flint said on Monday.

Source: businessofturkey.com

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Turkish Central Bank’s simplification move a return to normalization

With its latest decision to set the one-week repo rate as the benchmark to halt the depreciation of the lira and ensure financial stability, Turkey’s central bank has joined others around the world that have more simplified monetary policies

Source: www.dailysabah.com

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