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The Latest Breaking News from Sahap Kavcioglu

Turkish central bank faces key test on economic turnaround after Erdogan's reelection

Turkey's central bank faces a key test on turning to more conventional economic policies to counter sky-high inflation after President Recep Tayyip Erdogan’s recent reelection

The Independent UK · Jun 22, 2023

Erdogan's new central bank chief signals hope for Turkey's economic turnaround

Turkey's president has appointed a former U.S.-based bank executive to head the central bank

The Independent UK · Jun 9, 2023

Erdogan’s Wall Street Guy Is Back to Replenish Wiped-Out Coffers

Investors soured on Turkey’s contrarian economic policies. New Finance Minister Mehmet Simsek might just be able to bring enough of them back.

Businessweek · Jun 7, 2023

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Saudi Arabia Deposits $5 Bln in Türkiye's Central Bank

Saudi Minister of Tourism and Chairman of the Saudi Fund for Development (SFD) Board of Directors Ahmed Aqeel Al-Khateeb signed an agreement with Türkiye to deposit $5 billion in the country’s Central Bank, the Saudi Press Agency reported Monday. The agreement was signed with the Governor of the Turkish Central…

Asharq Al-Awsat · Mar 6, 2023

Türkiye’s Central Bank Lifts Inflation Forecast to 65.2%

Türkiye’s central bank raised its projection for year-end inflation by nearly five percentage points, citing the higher costs of energy and other imports. Governor Sahap Kavcioglu said Turkish consumer inflation would be around 65.2% at the end of 2022, up from the central bank’s July forecast of 60.4%. The bank…

Asharq Al-Awsat · Oct 28, 2022

Turkey’s Trade Deficit Widens Amid Efforts to Attract Hard Currency

Turkey’s trade deficit surged 75% year-on-year in March to $8.17 billion, mainly due to a 30.7% rise in imports, data showed on Friday. According to the Turkish Statistical Institute, exports climbed by 19.8% to nearly $22.71 billion versus imports of around $30.88 billion. Turkey has launched a new economic program…

Asharq Al-Awsat · Apr 30, 2022

Turkey: Central Bank Doubles 2022 Inflation Forecast

Turkey's central bank ramped up its year-end annual inflation forecast to 23.2% from a previous 11.8%, but its chief dismissed the notion that a series of unorthodox interest rate cuts have sent inflation soaring and the lira tumbling. When asked about the central bank's independence at a news conference, Governor…

Asharq Al-Awsat · Jan 27, 2022

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