Erdogan decree bans foreign currency property sales in Turkey
Erdogan decree bans foreign currency property sales in Turkey
Erdogan appoints himself chairman of Turkey's sovereign wealth fund
14 September, 2018, 14:43
During a speech to officials from his AK Party in Ankara on Friday, Erdogan also said Turkey would see the result of the centralbank's independence after a substantial rate increase that was made a day earlier.
Turkish President Recep Tayyip Erdogan has accused the United States of launching what he called a "heinous economic attack" on Turkey after the national currency lira hit a record low following U.S. sanctions.
The central bank's interest rate hike, which surprised investors with its magnitude, comes amid growing concerns that Erdoğan is pursuing policies that will eventually bankrupt the country.
He's delivered on that pledge, ousting the old guard of policy makers who'd guided the economy since 2002 and giving himself the sole authority to make appointments at the central bank and other state organizations.
The central bank said deterioration in pricing behaviour continued to pose upside risks on the inflation outlook, despite weaker domestic demand conditions.
"We can not allow the use of the tool of exploitation that is interest rates", Erdogan told a meeting in Istanbul on Thursday.
The lira reacted strongly to the decision, rising by five percent to the United States dollar.
There had been indications from the bank that it would raise rates after inflation came in at almost 18 percent in August.
In another bid to prop up the lira, Erdogan earlier on Thursday ordered by decree that property agreements in foreign currencies would not be allowed.
The bank is also fighting a losing battle against inflation with annual consumer price inflation hitting 17.9 percent last month, its highest level since late 2003.
The bank implemented what economists described as a hidden interest rate hike in mid-August, forcing banks to borrow at the higher 19.25 per cent through the overnight lending facility. "If you say 'inflation is cause, the rate is the result, ' you do not know this business, friend".
The bank later said on Twitter that funding would be provided via the policy rate, the one week repo auction rate, instead of through overnight lending from September 14.
Addressing a meeting of Turkish tradespeople in Ankara on Thursday, before the rate decision was announced, Erdoğan said the central bank is independent and takes its own decisions.
FDA had taken a slow approach to allow manufacturers to figure out how to submit products for consideration. But Gottlieb says sales have soared, especially to teens, who can quickly become addicted to nicotine.
President Donald Trump declared states of emergency for North and SC and Virginia, opening the way for federal aid. Forecasters expected some strengthening in the next 36 hours, as Florence marched west-northwest at 20kmh.
The Steelers and the running back failed to agree a long-term deal ahead of the July 16 deadline for franchise-tagged players. Ahead of Pittsburgh's season opener against Cleveland, Bell was listed as the starter, the Pittsburgh Tribune reported .
Memes have become a great source to entertain people, convey a message or any other objective on the social media platform. Facebook, in particular, uses an army of moderators that help it weed out offensive content shared on the platform.
World of Final Fantasy originally launched for PlayStation 4 and PlayStation Vita in October 2016, and for PC in November 2017. Original: If you're a fan of Final Fantasy , boy did this Nintendo Direct have some nice announcements.
A buoy off the North Carolina coast recorded waves almost 30 feet (9 meters) high as Florence churned toward shore. It is the storm's movement and not its strength that has forecasters and officials anxious .
The 64-year old Zolotov, who rarely makes public appearances, took to YouTube to vent his frustration with the opposition leader. The speech is a departure from the usual Kremlin policy to avoid even mentioning Mr Navalny's name in public.
The photo shows the churning storm, which according to Arnold, was later joined by Hurricane Isaac and Hurricane Helene. It is estimated that the wind speed in the eye of the hurricane reaches more than 200 kilometers per hour.
Kendricks reportedly made a profit of about $1.2 million by paying Sonoiki in cash as well as with Eagles tickets. Kendricks spent six seasons with Philadelphia before signing with the Browns on a one-year deal in the offseason.
Even miles away from the Atlantic, North Carolina residents in low-lying areas are boarding up and emptying stores. As of Tuesday, more than 1.7 million people in the Carolinas and Virginia were warned to clear out.
Jalen Ramsey continues to trash talk Gronkowski
He finished with just two tackles as Brady engineered late-game heroics to erase a 10-point fourth-quarter deficit. Notes: Rookie RB Sony Michel spoke to reporters for the first time since injuring his knee during training camp.
Cliff Collapses in Greece at Famed 'Shipwreck' Beach
British woman Wendy Thorpe said she was on a boat with her daughter when the cliff collapsed and there was an "almighty crash". The landslide occurred Thursday on the Navagio Beach , or Shipwreck Beach , on the northwestern coast of the island.
Even High-Fat Dairy Might Be Good for You
The high intake group also had a lower rate of stroke (1.2% vs 2.9%) and death (3.4% vs 5.6%) than the no dairy group. The findings were similar but not significant for people who ate both full-fat and low-fat dairy.
Apple said to be preparing trio of new iPhone handsets
Rs 78,000) and the top-end variant iPhone XS Max (iPhone XS Plus) could carry a price tag of United States dollars 1225 (Approx. The middle one, meanwhile, is expected to sport an LED display, and will only have the first two storage capacities.
U.S. FCC pauses review of T-Mobile, Sprint merger
Moreover, the Applicants asserted that this is now the "engineering model on which they rely in support of this transaction". This business model is described as providing the financial basis for the projected new network buildout.