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The Central Bank of Turkey reported a significant increase in the key interest rate. The rate for weekly REPO operations has been raised to 24% from 17.75% per annum. For analysts, such a significant increase was unexpected, they had predicted a rate of 21%, especially since the President of Turkey Recep Tayyip Erdogan urged the Central Bank to lower the rate, considering it too high. This is the third year since the beginning of the increase in the key rate. The level of inflation in the country has grown significantly and peaked since 2003, and the lira since the beginning of 2018 has fallen in price against the US dollar more than 40%.
The Bank of England will announce next week how quickly it expects the economy to recover from the coronavirus pandemic, but it is unlikely to add to the 100 billion pounds of the fiscal package it released in June. Britain’s economy ...
June had seen Japan’s industrial output breaking its four-month slump. The recuperation could be attributed to a modest recovery seen in broader business and consumer activity after the world’s third-biggest economy suffered from ...
Spain’s unemployment rose to 15.33% for the second quarter of 2020, according to Tuesday’s data from the National Statistics Institute amid the worsening COVID-19 situation in the country. The unemployment rate surged past the ...
Australia had seen its employment rate dropping 1.1% between mid-June and mid-July, weekly data showed on Tuesday. In addition to this, the southeastern state of Victoria recorded the sharpest plunge in employment as the state suffers from ...
The Securities and Exchange Commission (SEC) announced on Monday that UBS Financial Services Inc. (UBSG) would pay more than $10 Million to resolve charges regarding certain municipal bond offerings. UBS has agreed to pay the fine after SEC ...
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