Turkey Central Bank Cuts Interest Rates More Than Expected
Updated on
Save
Turkey's central bank delivered a sizable interest-rate cut for the first time since March, resuming a reduction cycle that was derailed by a political crisis stemming from the arrest of a leading opposition figure.
The Monetary Policy Committee reduced the one-week repo rate to 43% from 46% on Thursday, more than expected in a Bloomberg survey of analysts, where the median forecast predicted a cut of 250 basis points. The bank also lowered the overnight lending rate to 46% from 49% and the overnight borrowing rate to 41.5% from 44.5%.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
17 minutes ago
- Yahoo
Trump Is Days Away From Securing His Questionable Air Force One Jet From Qatar
President Donald Trump is days away from getting a $400 million 'gift' from a foreign nation. The U.S. government is expected to finalize an agreement with Qatar next week to receive a Boeing 747 aircraft to be used as Air Force One, The Washington Post reported Friday. A July 7 communication reviewed by The Post and signed by Defense Secretary Pete Hegseth and Qatari Deputy Prime Minister and Minister of State for Defense Affairs Saoud bin Abdulrahman Al-Thani, confirms that Qatar will give the 'donation' to the Department of Defense. The deal, months in the making, raises legal, ethical and national security concerns. While the U.S. Constitution forbids anyone holding public office from accepting gifts from foreign governments without approval from Congress, Republicans have largely shrugged off the deal. 'Can't beat free,' Sen. Steve Daines (R-Mont.) told reporters when asked about the offer in May. Trump, who has referred to the jet as a 'palace in the sky,' predictably feels the same way. 'Why wouldn't I accept a free gift?' Trump asked Fox News' Sean Hannity in May while aboard the current Air Force One. The ethical ramifications are so apparent that even the document reviewed by The Post appears to take extra effort to explicitly state that this isn't a bribe. 'Nothing in this [memorandum of understanding] is, or shall be interpreted or construed as, an offer, promise or acceptance of any form of bribery, undue influence, or corrupt practice,' the document reportedly said. The jet would become the new presidential plane until the end of Trump's term before being turned over to Trump's presidential library foundation. However, even before it can be used, the U.S. Air Force will likely spend hundreds of millions of dollars of taxpayer money on renovating the plane — a process that could take years. Trump has made clear he'll accept 'gifts' from any nation willing to give them. At a White House meeting in May, South African President Cyril Ramaphosa jokingly told Trump he was 'sorry I don't have a plane to give you.' 'I wish you did,' Trump responded. 'I'd take it. If your country offered the United States Air Force a plane, I would take it.'
Skift
18 minutes ago
- Skift
Etihad Airways CEO Unpacks Big Bet on Small Jets
Etihad is hoping to outmaneuver its Gulf rivals with 30 small but premium aircraft. Will passengers buy the promise of private jet-like luxury? In a region known for flying enormous 777s and double-decker A380s, Etihad's newest star is a single-aisle jet. The Gulf carrier took delivery of its first Airbus A321LR this week, a long-range variant of a plane more typically used for short economy-focused flights. The UAE airline is betting on the new aircraft to supercharge its network growth and broader brand revival. As Etihad CEO Antonoaldo Neves told Skift: 'Today we show the world we're back in the game, and specifically back in the premium game.' That game involves an aircraft type already familiar to many travelers. The A321LR, an evolution of Airbus' best-selling narrowbody, is new-generation, but not exactly groundbreaking. JetBlue took delivery of its first in 2021, while Aer Lingus, Air Transat, and SAS are among others to use the jet on short transatlantic hops. But it's the speed and scale at which Etihad is adding the A321LR – along with its distinctive three-class configuration – that is piquing industry interest. 30, Not 20, A321LRs on the Way Speaking at a media briefing at Airbus' Finkenwerder factory in Germany, Neves left reporters scrambling for their notes. What was meant to be a tranche of 20 A321LRs became a throng of 30. Asked for clarity on the 50% increase, Neves quipped: 'You guys are reading the wrong newspaper.' Through a mix of leased aircraft and direct orders, Etihad will now receive 30 A321LRs over the next four years. A steady flow should result in 10 deliveries by the end of 2025, followed by another 10 the next year, then five each in 2027 and 2028. From the airline's Abu Dhabi hub, the long-range jets will fly as far afield as Paris and Hanoi. Journey tim
Fox News
19 minutes ago
- Fox News
Trump claims Hamas refused to make a deal to release remaining hostages
Fox News contributor and former Secretary of State Mike Pompeo joins 'Fox News Live' to discuss President Donald Trump's latest comments on Hamas' refusal to release the remaining hostages.
