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Turkish Lira Tumbles As Erdogan Threatens Moody"s With An "Operation"

While S&P faced being 'black-called' after daring to downgrade US sovereign rating in 2011, Moody's decision to (rightfully) downgrade Turkey to 'junk' (and warn on its banking system) has prompted a direct threat from.....»»

Category: blogSource: zerohedgeJun 14th, 2018

Turkish Lira Crashes Through 7 As Erdogan Threatens To Unleash "Plan B Or C..."

Following emergency bank meetings and numerous pleas by Erdogan for Turks not to "pull FX out of their banks," blaming the country's current economic crisis on America, .....»»

Category: blogSource: zerohedgeAug 12th, 2018

Turkish Lira Tumbles After Central Bank Liquidity Boost Fails To Halt Freefall

Update: It is becoming increasingly clear that, despite his claims of omnipotence, Turkey President Erdogan has officially lost control of his nation's currency. For a few very brief moments, the Lira bounced after the stopgap.....»»

Category: blogSource: zerohedgeAug 6th, 2018

Turkish Lira Bloodbath Continues As Erdogan Threatens Retaliation

It would appear that Turkish President Erdogan is not a fan of Kenny Rogers as he watches his nation's currency collapse into worthlessness, he refuses to "fold .....»»

Category: blogSource: zerohedgeAug 2nd, 2018

Turkish Lira Tumbles To Record Low As "Ticking Time Bomb" Looms In Banking System

Having exercised his newly-omnipotent capabilities to alter central bank decrees and appointing a puppet cabinet, Turkish President Erdogan is now urging the general public to borrow in the currency in which they are paid, but, as Bloomberg reports, that.....»»

Category: blogSource: zerohedgeJul 11th, 2018

Turkish Lira Tumbles After Erdogan Appoints Son-In-Law As Finance Minister

While UK Prime Minister Theresa May is losing control, Turkish president Erdogan is solidifying his, with traders closely watching the cabinet Erdogan would appoint after he was officially sworn in as a "president with enh.....»»

Category: blogSource: zerohedgeJul 9th, 2018

Turkish Lira Tumbles As Erdogan Sworn In, Changes Central Bank Law

As Turkey completes its transition from a parliamentary model to an all-powerful presidency, the Lira has tumbled, erasing overnight gains, following reports that .....»»

Category: blogSource: zerohedgeJul 9th, 2018

"Truly Awful Numbers": Lira Tumbles After Turkish Inflation Explodes Most In 15 Years

Having stabilized modestly after its mid-June rout, which sent the Turkish Lira to a record low of 4.74 - on the re-election of president Erdogan of all things - overnight the TRY tumbled as much as 1.4% to 4.6813 after Turkey reported that he.....»»

Category: blogSource: zerohedgeJul 3rd, 2018

Turkish Lira Tumbles As Erdogan Blasts Interest Rates Are "Mother Of All Evils"

Having bounced off record lows earlier in the week, the Turkish Lira is re-tumbling following President Erdogan's comments that interest rates are "the mother and father of all evil" and that T.....»»

Category: blogSource: zerohedgeMay 11th, 2018

Turkish Lira Tumbles To Record Low After Erdogan Promise To "Rescue Investors From High Rates"

The Turkish Lira accelerated its recent demise today - breaking below two critical thresh.....»»

Category: blogSource: zerohedgeApr 9th, 2018

Lira Strengthens After Erdogan Says Turkish Court Will Decide Pastor"s Fate

Despite President Recep Tayyip Erdogan's promises that another economic boom is jus.....»»

Category: blogSource: zerohedgeSep 26th, 2018

Turkish Lira Swings Violently As Erdogan"s Economic Plan Spooks Traders

The Turkish lira swung violently, rising to session highs then slumping 1.5% after Turkey presented its medium term economic plan, which together with last week's massive 625bps rate hike was supposed to restore investor confidence in the country.....»»

Category: blogSource: zerohedgeSep 20th, 2018

"My Patience Has Limits": Turkish Lira Battered After Erdogan Resumes Attack On Central Bank

One day after slamming the central bank's high rates and inability to handle inflation - just hours before the CBRT announced a jarring 625bps rate hike to 24% - Turkish President Recep Tayyip.....»»

Category: blogSource: zerohedgeSep 14th, 2018

The lira is going wild after the Turkish central bank defied Erdogan and hiked interest rates

Petros Karadjias/AP Images Turkey's central bank raised the interest rate from 17.75% to 24% on Thursday, beating .....»»

Category: topSource: businessinsiderSep 13th, 2018

Turkish Lira Crashes After Erdogan Attacks Central Bank Hours Before Rate Decision

Turkish Lira Crashes After Erdogan Attacks Central Bank Hours Before Rate Decision.....»»

Category: blogSource: zerohedgeSep 13th, 2018

The Turkish lira dives after Erdogan calls for lower interest rates — stoking fears about central bank independence

REUTERS/Umit Bektas Turkish President Recep Erdogan on Thursday said interest rates are a "tool of exploitation" and called for low interest rates. The Turkish central bank makes a.....»»

Category: topSource: businessinsiderSep 13th, 2018

Turkey"s Inflation Hits 18% Putting Fresh Pressure on the Lira

Turkish inflation accelerated in August to its fastest rate since President Recep Tayyip Erdogan took office 15 years ago—a challenge for a leader who has pledged to both put a lid on consumer prices and keep the economy expanding at a fast pace......»»

Category: topSource: wsjSep 3rd, 2018

Turkish lira further weakens, nearing record low

The Turkish lira has further weakened against the dollar amid investors' move away from emerging markets and concerns over President Recep Tayyip Erdogan economic policies......»»

Category: topSource: foxnewsAug 30th, 2018

10 things you need to know before the opening bell (SPY, SPX, QQQ, DIA, TRI)

Here is what you need to know.  The Turkish lira is diving after Moody's warned the worst is yet to come for the country's banks. The lir.....»»

Category: topSource: businessinsiderAug 29th, 2018

The Turkish lira is diving after Moody"s warns the worst is yet to come for the country"s banks

Markets Insider Turkish lira slumps once again after Moody's downgrades 20 financial institutions. The currenc.....»»

Category: topSource: businessinsiderAug 29th, 2018

Turkish Lira Tumbles As Central Bank Intervention Fails

The Turkey’s lira tumbled as much as 3% against the dollar, making it the worst performing currency in the world, and.....»»

Category: blogSource: zerohedgeAug 29th, 2018