{
}
Kazakhstan's largest e-commerce group, Kaspi.kz, has agreed to acquire Rabobank's Turkish subsidiary, which is a fully licensed bank in Türkiye with no borrowing or depositing clients and a single branch. The acquisition, announced on March 27, is pending regulatory approval and is considered non-material. Rabobank's Turkish operations, established in 2013, are the 40th largest lender in the Turkish banking sector, with assets of 1.9 billion Turkish Liras as of the end of 2024.
Goldman Sachs forecasts that Türkiye's central bank may raise its key interest rate by up to 350 basis points at the upcoming Monetary Policy Committee meeting on April 17, following a recent cut to 42.5%. This significant hike aims to reinforce the commitment to disinflation and stabilize the economy, despite potential risks to growth and borrowing costs. The report also highlights concerns over the threat of dollarization, which could undermine monetary policy effectiveness, while expressing cautious optimism due to Türkiye's strong foreign exchange reserves.
Bank of America has revised Türkiye's inflation forecast upward to 28.1%, citing political turmoil, and raised its year-end policy interest rate projection to 32.5%. The bank also shifted its outlook for the Central Bank of the Republic of Türkiye, now expecting rates to remain steady instead of a cut. Despite recent challenges, analysts believe political uncertainty may ease, with a commitment to restoring stability and reducing inflation.
Turkey's Finance Minister Simsek and the central bank governor are set to engage in a call with international investors. This meeting aims to address economic concerns and foster investor confidence amid ongoing financial developments in the country.
Societe Generale has closed its short positions in the USD/TRY currency pair, indicating a shift in expectations for the Turkish lira's performance. The bank anticipates the Central Bank of the Republic of Türkiye will focus on stabilizing the lira, with limited potential for appreciation. While no rate cut is expected in April, SocGen forecasts reductions of 150 basis points in June and 200 basis points in July, projecting a year-end policy rate of 35%.
JPMorgan has raised Türkiye's year-end inflation forecast from 27.2% to 29.5% due to a slower disinflation process and recent currency volatility following the detention of Istanbul Mayor Ekrem Imamoglu. The bank anticipates a 150 basis-point interest rate cut starting in April, adjusting the year-end rate expectation to 35%. Concerns over persistent inflationary pressures and geopolitical risks are influencing Türkiye's economic outlook and foreign investment dynamics.
The rollback of diversity, equity, and inclusion (DEI) initiatives by major corporations reflects a broader shift influenced by the Trump administration's policies. Companies like Target and McDonald's have scaled back their DEI commitments, citing the need to align with changing political landscapes, while others continue to navigate these challenges quietly. This retreat disrupts decades of progress aimed at reducing workplace discrimination and expanding opportunities for minorities and women.
The Turkish lira plunged to an all-time low against the U.S. dollar and euro, depreciating by about 10% following the detention of Istanbul Mayor Ekrem İmamoğlu, a key political rival of President Erdoğan. This event has heightened investor concerns over Turkey's political stability and economic policies, leading to a nearly 9% drop in the BIST 100 index. In response, the central bank intervened by selling a record amount of foreign currency to stabilize the lira.
Gold has surpassed $3000 an ounce for the first time, driven by rising geopolitical tensions and persistent inflation concerns. Major banks like Goldman Sachs and UBS have raised their price targets, reflecting strong institutional demand, particularly from central banks, including China and India. However, potential risks such as overvaluation and shifts in Federal Reserve policy could impact gold's bullish outlook.
Emerging market sovereigns face vulnerabilities amid rising global financial volatility, particularly with the U.S. dollar rallying. Countries like Argentina, Turkey, and South Africa have seen significant currency depreciations, while exposure to currency risk varies widely, with South American nations notably affected. Additionally, potential capital outflows and increased interest burdens could exacerbate financial pressures for several emerging economies.
Turkish Lira
Currency
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Kazakh Kaspi acquires Rabobank's Turkish banking operations in strategic move
09:45 28.03.2025
turkish central bank may raise interest rate by 350 basis points
08:01 28.03.2025
Bank of America raises Türkiye inflation forecast amid political turmoil
11:36 25.03.2025
Turkey's Simsek and central bank governor to engage with global investors
09:12 25.03.2025
socgen exits short position in turkish lira amid economic shifts
15:10 21.03.2025
JPMorgan raises inflation and interest rate forecasts for Turkey amid volatility
09:05 20.03.2025
corporate retreat from diversity equity and inclusion efforts accelerates amid political shifts
Turkish Lira
United States Dollar
Netflix Inc
American Airlines Group Inc.
Morgan Stanley
Tesla, Inc.
Southwest Airlines Co.
Unilever PLC
USA
Stacey Abrams
Brian Cornell
Barack Obama
George Floyd
Show more
18:01 19.03.2025
turkish lira hits record low amid political turmoil and investor concerns
16:39 19.03.2025
gold prices soar past three thousand dollars amid economic uncertainty
Indian Rupee
Turkish Lira
Polish Złoty
Chinese Yuan
United States Dollar
The Goldman Sachs Group, Inc.
CHN
TUR
IND
POL
Show more
16:40 14.03.2025
BNP Paribas Report Distribution Across Global Financial Markets
Argentine Peso
South African Rand
Turkish Lira
GHA
CHL
ZMB
BRA
POL
PAK
IDN
CZE
JAM
MYS
KEN
JOR
TUR
HUN
COL
CRI
PER
ZAF
ARG
Show more
14:34 27.02.2025
Trending
Subcategory
Corporate News
Stock Market Updates
Industry Trends
Retail and Consumer Goods
Industry Mergers & Acquisitions
Global Financial Events
Finance Mergers & Acquisitions
CEO Changes
Banking Regulations
Market Analysis and Predictions
Government Policies
Startups & Entrepreneurship
Banking & Investment Regulations
Financial Scams and Security
Consumer Protection Regulations
Domestic Politics
Hedge Funds & Private Equity
Central Bank Actions
Global Trade Developments
Government Economic Policies
Countries:
Companies:
JPMorgan Chase & Co.
The Goldman Sachs Group, Inc.
Tesla, Inc.
Morgan Stanley
Barclays PLC
Citigroup Inc.
Wells Fargo & Company
Deutsche Bank Money Market PP
Bank of America Corporation
Amazon.com, Inc.
Apple Inc.
Microsoft Corporation
Credit Suisse Strategic Income I
NVIDIA Corporation
Google Inc.
BNP Paribas SA
Basler Kantonalbank
Commerzbank AG
SpaceXCoin USD
Bank Cler AG
Currencies:
United States Dollar
Euro
Swiss Franc
British Pound Sterling
Chinese Yuan
Indian Rupee
Japanese Yen
Canadian Dollar
Australian Dollar
Hong Kong Dollar
Mexican Peso
Danish Krone
New Taiwan Dollar
Turkish Lira
United Arab Emirates Dirham
Russian Ruble
Offshore Chinese Yuan
Omani Rial
Kenyan Shilling
Indonesian Rupiah
People: