• Turkey's Central Bank Raises Interest Rates to Curb Inflation

    12 days ago - By NY Times

    The bank's move, to ramp up the benchmark rate by 6.25 percentage points, had long been resisted by President Recep Tayyip Erdogan.
    Read more ...

     

  • Watch ECB's Draghi speak as central bank leaves rates unchanged

    12 days ago - By CNBC

    European Central Bank President Mario Draghi is speaking in Frankfurt after the central bank held interest rates at current levels.
    Read more ...

     

  • European Central Bank holds and says rates won't change until next summer at the soonest

    European Central Bank holds and says rates won't change until next summer at the soonest

    12 days ago - By Business Insider

    European Central Bank leaves monetary policy entirely unchanged at the September meeting of its governing council.
    Base deposit rate stays at -0.4%, and will remain there until at least next summer, the ECB said.
    It continues to expect to end its quantitative easing programme by the end of 2018.
    The European Central Bank left its monetary policy entirely unchanged at the September meeting of its governing council on Thursday, as had been expected.
    That means a base deposit rate of -0.4%, and a quantitative easing program of €30 billion per month - a figure that will be reduced to 15...
    Read more ...

     

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

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

    12 days ago - By Business Insider

    Turkey's central bank raised the interest rate from 17.75% to 24% on Thursday, beating market forecasts.
    Earlier in the day, Turkish President Erdogan stoked fears that the central bank's independence could be under threat by calling for low interest rates.
    The lira is surging against the dollar as a result, with a swing of 4% from negative to positive.
    LONDON - The Turkish lira is surging against the dollar on Thursday after the country's central bank defied the wishes of the president and hiked interest rates.
    The Central Bank of the Republic of Turkey raised its benchmark rate of...
    Read more ...

     

  • Here comes the Bank of England

    Here comes the Bank of England

    12 days ago - By Business Insider

    The Bank of England is set to leave interest rates on hold at its September meeting.
    The bank raised rates at its previous meeting in August, so is unlikely to change policy for a while.
    It could, however, provide an update on its Brexit planning.
    The bank's meeting comes just two days after it was announced that Governor Mark Carney has extended his stay at the helm of the central bank until early 2020.
    The Bank of England will shortly announce the latest decisions taken by its rate-setting Monetary Policy Committee.
    Interest rates are universally expected to remain on hold. The central...
    Read more ...

     

  • Turkish Lira Plunges As Erdogan Criticizes Central Bank

    Turkish Lira Plunges As Erdogan Criticizes Central Bank

    12 days ago - By ETF Daily News

    From Tyler Durden : After a few weeks of relative stability in the Turkish Lira - the currency many say started the current EM turmoil - moments ago the TRY collapsed after Erdogan decided to slam the country's “independent” central bank.
    Just hours before a widely expected, and much needed to restore investor confidence, rate hike by the Turkish central bank, President Recep Erdogan decided to attackd the central bank out of the blue for “continuously missing inflation targets” just two hours before the bank announces its interest rates decision.
    “I have never seen the central bank...
    Read more ...

     

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

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

    12 days ago - By Business Insider

    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 an interest rate decision today. It is meant to be independent but has been coming under increasing pressure from Erdogan.
    Analysts say Turkey needs to raise interest rates to combat inflation, which is running at 16%.
    Erdogan's comments sent the Turkish lira down by as much as 3% against the US dollar.
    Follow the Turkish lira in real time here.
    The lira is tumbling against the US dollar on Thursday morning after Turkish President...
    Read more ...