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
Iran is demanding that talks with the U.S. this week be held in Oman not Turkey, and that the scope be narrowed to two-way negotiations on nuclear issues only, a regional source said on Tuesday, adding new complications to an already delicate diplomatic effort.
Iran and the United States will resume nuclear talks on Friday in Turkey, Iranian and U.S. officials told Reuters on Monday, and U.S. President Donald Trump warned that with big U.S. warships heading to Iran, bad things would probably happen if a deal could not be reached.
Syrian government security forces deployed into a Kurdish-controlled city in the northeast on Monday under a U.S.-backed ceasefire deal that foresees the Kurdish-run regions being merged with Damascus.
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