Turkey
Istanbul rattled by 5.0-magnitude earthquake
A 5.0-magnitude earthquake rattled buildings in Turkey's largest city Istanbul on Thursday, sending some people rushing out to the streets, Reuters witnesses and the AFAD disaster agency said
The International Monetary Fund called for continued tight, data-driven monetary policy in Turkey until inflation converges to target as it concluded an Article IV consultation.
The central bank has hiked its main policy rate to 50% from 8.5% to battle high inflation © Mena Today
The International Monetary Fund called for continued tight, data-driven monetary policy in Turkey until inflation converges to target as it concluded an Article IV consultation.
Higher interest rates since June last year have reduced economic imbalances and revived confidence, the IMF said on Saturday, adding that improved market sentiment had prompted foreign and domestic investors to shift into lira-denominated assets.
The central bank has hiked its main policy rate to 50% from 8.5% to battle high inflation. The government raised taxes and some fees to boost income, while implementing fiscal measures to balance risks in the economy.
Reporting by Nevzat Devranoglu
A 5.0-magnitude earthquake rattled buildings in Turkey's largest city Istanbul on Thursday, sending some people rushing out to the streets, Reuters witnesses and the AFAD disaster agency said
Most of the vessels from the so-called “Gaza flotilla” have been intercepted by the Israeli Navy, with passengers set to be expelled in the coming days. Despite the fact that all detainees are reportedly in good health and have suffered no violence, Ankara has reacted with outrage.
Israeli forces have intercepted 39 boats carrying aid and foreign activists, including Swedish campaigner Greta Thunberg, to Gaza, leaving only one vessel still sailing towards the Palestinian enclave, the flotilla organisers said on Thursday.
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