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Tuesday, September 13 2011 , Your time is 15:58:00
The Turkish Lira rallied to a four-month high on April 27 after a surprise policy tightening decision reassured investors about the Central Bank’s resolve on inflation, as reported by Reuters.
COVENTRY - Reuters
U.S. Federal Reserve Vice Chair Stanley Fischer said there was significant uncertainty about U.S. fiscal policy under the Trump administration, but the Fed would be strict in meeting targets of creating full employment and getting inflation to 2 percent.
Deutsche Bank has agreed to pay $630 million in fines for organizing $10 billion in sham trades that could have been used to launder money out of Russia, the latest in a string of penalties that have hammered the German lender’s finances.
MAINZ - Reuters
The U.S. administration should blame itself rather than Germany for a recent strengthening of the dollar against the euro, the head of Germany’s Bundesbank said on Feb. 7.
ANKARA - Anadolu Agency
The Turkish Central Bank has reduced its number of Monetary Policy Committee (MPC) meetings from 12 to eight times a year, the bank said Jan. 28.
ANKARA - Reuters
Foreign banks and sovereign wealth funds are interested in working with Turkey’s newly formed wealth fund, which is likely to make its first transaction this year, Turkish Finance Minister Naci Ağbal told Reuters on Feb. 8.
Ratings agency Fitch downgraded Turkey's sovereign debt to "junk" late on Jan. 27, snuffing out its last remaining investment grade by underlining deepening concerns over the country's political and security developments
BEIJING - Reuters
China said on Feb. 3 it has never used its currency as a tool to gain an advantage in trade and was not seeking a “currency war”, after U.S. President Donald Trump criticized Beijing for harming American companies and consumers with a devaluation of its yuan.
Turkey’s Central Bank on Jan. 24 increased the upper limit of its interest rate corridor to 9.25 percent from 8.5, a move that proved fruitless on the ailing Turkish Lira.
The Turkish Lira became a surprise winner on Jan. 30 by rising 1.2 percent in spite of Fitch’s decision on Jan. 27 to cut the sovereign rating to “junk” and Standard & Poor’s unexpected move to lower the outlook on Turkey’s rating from “stable” to “negative.”
A state of emergency decree has listed fields that indebted Turkish companies can payback to at a stable exchange rate, which is significantly below the current free market rate, amid Turkish authorities’ efforts to curb the rise of the U.S. dollar against the Turkish Lira
LONDON - Agence France-Presse
Demand for gold rose in 2016 to a three-year high, aided by keen investment appetite for the precious metal, the World Gold Council said in a report on Feb. 3.
The Central Bank’s Monetary Policy Committee (PPK) is set to meet on Jan. 24 to make a key decision on raising, holding or lowering interest rates, after recent sharp losses in the value of the Turkish Lira.