ANKARA/ISTANBUL, April 18 The Turkish lira
weakened as much as 2 percent on Thursday, wiping out gains from
a day earlier, as concerns about the central bank's reserves
resurfaced and raised questions about the country's ability to
weather another market selloff.
ANKARA Turkey's economy is expected to contract in 2019 after a decade of strong growth, and economists are predicting a longer recession ahead after a recent bout of volatility in the lira, a Reuters poll showed on Friday.
ISTANBUL Economists expect Turkey's central bank to delay cutting rates until around July, and to ease policy less aggressively than previously thought, a Reuters poll showed on Friday after two weeks of volatility in the country's financial markets.
ANKARA/ISTANBUL The Turkish lira was back in free fall on Thursday, dropping 5 percent as liquidity returned to a key London foreign-exchange market, prompting President Tayyip Erdogan to blame the currency's weakness on attacks by the West.
ANKARA/ISTANBUL Turkey will keep directing its banks to withhold lira liquidity from a key foreign market at least until after local elections on Sunday, sources said, as the government intensifies efforts to defend the currency, which plunged last week.
* Measure of implied volatility at highest since last
ANKARA, March 25 Turkish individual investors
who switched to foreign currency savings to avoid low interest
returns on Turkish lira deposits played a major role in the
currency's biggest one-day fall since August, bankers said on
* Tax cuts seen giving central bank room for rate cut
(Adds central bank data on forex holdings)
ANKARA, March 14 Total foreign exchange,
including precious metals, held by Turkish citizens and
institutions rose to a record high of $171.8 billion as of March
8, data from the central bank showed on Thursday, signalling a
decline of confidence in the lira.
ANKARA, Jan 3 Turkey's central bank will hold
its annual general meeting three months early, it said on
Thursday, a move former central bankers said was aimed at
transferring funds to the treasury before March local elections.