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Search resuls for: "Central Bank of Turkey"


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Auto stocks plunged 3.45% as results disappointed, while travel stocks traded 1.7% lower. European stock markets opened sharply lower Thursday as attention remains on third-quarter earnings and government bond yields. Results are out from a slew of companies including Standard Chartered, BNP Paribas, TotalEnergies, Volvo Cars, Novozymes, Volkswagen, Carrefour, Saab and Wacker Chemie. Meanwhile, monetary policy decisions are due from the European Central Bank — for which markets have priced in a more than 98% likelihood of a hold in interest rates — and the central bank of Turkey, from which economists polled by Reuters anticipate a 500 basis point hike to 35%. The benchmark 10-year Japanese government bond yield hit a fresh 10-year high ahead of a central bank meeting next week, according to Reuters data.
Organizations: Chartered, Standard Chartered, BNP, TotalEnergies, Volvo, Volkswagen, Carrefour, Saab, Wacker Chemie, Investors, Facebook, Meta, European Central Bank —, Reuters, Treasury Locations: London, Turkey, Asia, Pacific
U.S. Treasurys held steady on Thursday as investors considered the outlook for Federal Reserve monetary policy ahead of the central bank's meeting next week and awaited key data due before then. Investors considered what could be on the horizon for monetary policy as they looked to economic data for hints about the state of the economy. They are widely expected to keep rates unchanged, but investors are hoping for hints about whether rates could be hiked again later. Various economic reports that could affect the outlook for monetary policy are expected before then. Also on Thursday, weekly initial jobless claims and September's durable goods orders and pending home sales data are expected.
Persons: Treasurys, Dow Jones, Jerome Powell Organizations: Treasury, Federal Reserve, Investors, Fed, European Central Bank Locations: Turkey
Morning Bid: Fed leaves shoe dangling in policy parade
  + stars: | 2023-09-21 | by ( ) www.reuters.com   time to read: +5 min
At least eight major central banks are meeting on Thursday. Central banks in South Africa and Turkey are also meeting. Futures now show the implied Fed policy rate for the end of next year at a new cycle high of 4.85% - up a whopping 35 basis points in just over a week. Key developments that should provide more direction to U.S. markets later on Thursday:* Bank of England policy decision; South Africa Reserve Bank policy decision, Central Bank of Turkey policy decision. European Central Bank President Christine Lagarde speaks* Philadelphia Fed's September business survey, U.S. weekly jobless claims, U.S. Aug existing home sales, U.S. Q2 current account estimate.
Persons: Sarah Silbiger, Mike Dolan, Jerome Powell, Goldman Sachs, Goldman, Jan Hatzius, Robin Brooks, Brooks, BoE, Christine Lagarde, Darden, Christina Fincher Organizations: Eccles Federal Reserve, Washington , D.C, REUTERS, Swiss National Bank, Bank of, Fed, for International Finance, Treasury, Swiss, Africa Reserve Bank, Central Bank of, European Central Bank, Factset, Reuters, Thomson Locations: Washington ,, U.S, Norwegian, Bank of England, South Africa, Turkey, Central Bank of Turkey, Philadelphia
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTurkey's economy will get 'tighter and tougher,' says advisory firmRachel Ziemba of Ziemba Insights says the governor of the Central Bank of Turkey is trying to front-load monetary policy adjustments in an effort to avoid making things worse.
Persons: Rachel Ziemba Organizations: Central Bank of Locations: Central Bank of Turkey
Alexander Manzyuk | ReutersGold demand soared to an 11-year high in 2022 on the back of "colossal central bank purchases, aided by vigorous retail investor buying," according to the World Gold Council. Annual gold demand jumped 18% to 4,741 tons (excluding over-the-counter or OTC trading) across the year, the largest annual figure since 2011, fueled by record fourth-quarter demand of 1,337 tons. "Central bank net purchases in Q4 totalled 417t, lifting H2 total buying to 862t. The majority of the central bank buying in 2022 came from emerging markets, with the Central Bank of Turkey the largest buyer at a record 542 tons. This means that the purchasing power of non-U.S. buyers is reduced and harms global gold demand.
Turkish President Tayyip Erdogan addresses members of his ruling AK Party (AKP) during a meeting at the parliament in Ankara, Turkey May 18, 2022. MANDATORY CREDITTurkey will keep cutting interest rates, its President Recep Tayyip Erdogan said, despite soaring inflation at over 80%. Faced with deepening economic problems, Erdogan also took the time to throw some barbs at the U.K., saying that the British pound has "blown up." The currency has lost roughly 28% of its value against the dollar this year and 80% in the last 5 years as markets shunned Erdogan's unorthodox monetary policy of cutting interest rates despite high inflation. "Turkey has 80% inflation and I guess the worst performing currency over the past decade.
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