24 Burst results for "Turkey Central Bank"

"turkey central bank" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

06:34 min | 2 weeks ago

"turkey central bank" Discussed on Bloomberg Radio New York

"To see just how much comes through in terms of flow, Goldman Sachs head of natural gas research, some of the darts as that Russia is using gas as a political tool. I think what we've seen, including, for example, the decision not to reroute the reduced flows via the Ukraine, which was an option for Russia. And they opted not to do that. So it really opens room for interpretation that this is a bit of a political decision. That was Goldman Sachs's head of natural gas research, Samantha dart speaking to Bloomberg. The EU has proposed that the block cut its natural gas consumption by 15% over the next 8 months in a plan that would affect all households, power producers and industry. Now here in the UK, the two people left in the running to be the next prime minister have begun their campaigns both promising to beat labor in the next election. The former Chancellor Vichy sunak and the foreign secretary Liz truss will go head to head after penny mordent was knocked out yesterday. The final results on the ballot of conservative members is two on the 5th of September. Trust says she is not complacent. What I believe is that lowering taxes, opening up opportunities is going to help us deliver the economic growth at Britain needs. And it's also going to help deliver us the next election. I can win against Keir Starmer in 2024. That was the foreign secretary Liz truss. Now the pair will campaign for votes over the summer and have also agreed to take part in two live TV debates on the BBC at one on Monday and then Sky News next month, so sunak versus trust. And just in corporate news Tesla's latest set of results beat second quarter earnings estimates, reflecting the electric car firms progress in tackling supply chain issues and COVID lockdowns at its China factory adjusted earnings of $2 and 27 cents beat expectations but fell from the first quarter. Speaking to investors CEO Elon Musk reflected on some of the challenges that the firm has faced. I think inflation will decline towards the end of this year. We have certainly seen prices of commodities trending lower with grain of salt. That was the Tesla CEO and founder Elon Musk, speaking on the investor call, muska has also revealed that the car firm sold 75% of its stake in Bitcoin to maximize its cash position because of uncertainty related to the COVID shutdowns, the original investment had helped to legitimize the world's largest cryptocurrency. Those were a few of our top stories for you this morning. Now, let's take a look at some of the things to watch out for today. But it basically had garands is with me again. At Leigh Anne, plenty on the docket. Yes, there is plenty on the docket Caroline and as you mentioned just a little bit earlier at 8 a.m. UK time today, Italy's prime minister Mario Draghi is expected to tell the lower house of parliament that he will resign. So that's not too long of now about an hour and a half and we'll see what happens at that time. And at 12 p.m. UK time we'll have the latest rate decisions from Ukraine Central Bank as well as from turkey Central Bank. Then at about 1 p.m., the ECB will reveal its latest rate decision and that will quickly be followed at one 30 p.m. by data out of the U.S., which includes initial jobless games and parliament's summer recess begins but campaigning doesn't stop with Liz truss and Rishi sunak now going head to head in the leadership battle, but I know Lizzie burden is standing by and she can tell you more about that. Absolutely. Thank you so much, Lee, and Gary, yes, let's get more then on the contest to succeed by Johnson and foreign secretary Liz truss is to take on the former Chancellor Rishi sunak after the pair came top in the final round of voting among the conservative members of parliament. Lizzie burdens are emea economics and government correspondent in the studio. So the focus now to the grassroots Tory members, what can we expect? Well, there are very different kettle of fish to the MPs who've been voting so far. So while Rishi sunak has been the FrontRunner, all this time. Now trust is the clear favorite because her 30 billion pounds of tax cuts her hard line Brexit stance are likely to appeal more to that hard line grassroots base. But Caroline polls fluctuate. So things could change. We've got 6 weeks of campaigning ahead. I spoke to an MP who's in the sunac camp yesterday, he's confident that that's enough to change the party membership's mind. But the postal ballots are going to be posted out on the first week of August, and they'll be returned very quickly. So we could already have the winner made up, even if we don't find out until the 5th of September, but on both sides, there are easy stones to throw, Liz trusts used to be a Liberal Democrat. She was a remainer until the referendum result lived in quite a long time ago. But still, it was in her past her political past, Rishi sunak, meanwhile, could invite the accusation from Liz trust that he got a party gate find he she's already called him a socialist for raising taxes while he was Chancellor, but he's thrown that accusation back at her. So it could get pretty ugly, even more ugly than it is, we're going to see more of that as you say in the BBC debate on Monday. Yeah, absolutely. So we have the two candidates. And plenty of mud to be slung about. What about policy though? Their views on the economy. I mean, this is probably going to be an election for largely on economics. Yeah, very interesting time. It's the economy stupid once again. We had John Glenn, the former city minister and sooner call out on Bloomberg yesterday, and he made an interesting point that really they're both for tax cuts. Both trust unseen act. It's just the time scales that they want them in. And sunak wants to wait until inflation is under control, whereas trust says she's going to cut taxes from day one. She's looking at reversing the national insurance rise to fund the NHS and social care. She's going to, she says, reverse the 6 the 6 pence rising corporation tax that sunac had planned. But there's also when we're talking about economic policy, trusses, criticism of the Bank of England in its role for not controlling surging inflation. She's also hinted that she would change

Liz truss Rishi sunak Russia Goldman Sachs Samantha dart Elon Musk Vichy sunak penny mordent Keir Starmer COVID Tesla muska UK Ukraine Central Bank turkey Central Bank Bloomberg
"turkey central bank" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

04:09 min | 4 months ago

"turkey central bank" Discussed on Bloomberg Radio New York

"In Hong Kong equity action will get underway at the bottom of the hour If you're joining from the region good morning I'm Doug prisoner at the Bloomberg interactive broker studio in New York And I'm Juliette Sully in Singapore markets coming online this hour after we have the MAS Titan let's get all the latest market action here in Asia with Bloomberg's Brian Curtis Bryan Yeah there's a lot this hour in particular Let's start first with the move just a few moments ago by the bank of Korea raising the key interest rate by a quarter percentage point to 1.5% This follows Singapore and New Zealand also with a strong moves this week We also saw the bank of Canada raising 50 basis points Earlier Singapore's Central Bank tightened its monetary policy settings as it raised its inflation forecast as well and looking to fight these pressures with inducing the currency to rise so enabling people to fight inflation a little bit better And right now in terms of the market's opening up the tye X is trading up about a third of 1% straight times index is compressed into a fairly tight range here really not too much change down about a tenth of 1% We just had China futures start to trade FTSE China a 50s are up now about four tenths of 1% And when last traded Hank Singh index futures were up about a half of 1% In terms of the cash markets that are up and running now we've had a pretty strong day today Perhaps a little bit counterintuitive with all these central banks moving and people still chasing equity than EK up 1.1% with a jump of 287 points We had a hot inflation print in the United States and the PPI And yet we had yields heading lower the yield on the two year down It's down 20 basis points since Monday the yield on the ten year at 2.71% so it's picked back up a little bit getting back over 2.7% right now WTI crude is trading at $103 and 61 cents down about 6 tenths of a percent but oil has been very firm We'll take a closer look at a lot of other aspects of markets in the 15 minutes three minutes past the hour dug to you All right Brian thanks Well one of the big questions for markets these days it has to do with monetary policy tightening we talked there about the bank of Korea and the monetary authority of Singapore Big question in the states is whether the economy can handle fed tightening such as a half point increase well according to a fed governor Chris Waller the answer is yes Here he is speaking earlier today on CNBC I really favor front loading our rate hikes that we need to do more withdrawal of accommodation now if we want to have an impact on inflation later this year and next year So in that sense the way to front load it is to pull some rate hikes forward which would imply 50 basis points at one or multiple meetings in the near future 50 basis points at multiple meetings That would be May June and July conceivably and then Waller went on to say the fed needs to get closer to the neutral rate as soon as possible Juliet Nearly $8.3 billion in the first quarter but results were marred by a lot of $524 million tied to market fallout from Russia's invasion of Ukraine As an example around a $120 million of the loss stemmed from extreme movements in nickel Here's CEO Jamie Dimon We're helping our clients get through this We had a little bit lost this quarter We're going to manage through it We'll do post mortems on both what we think we did wrong and with the LMA could do differently later We're not going to do it now JPMorgan also added $900 million to its net reserves It's because the bank sees slightly higher odds of a recession due to rising inflation and the war in Ukraine Shares in JPMorgan feel more than 3% during the regular session And reference from mister diamond is the London medals exchange We remember the really turbulent session a couple of weeks back in the nickel market in particular We're at 5 minutes past the hours We update global news Well the suspect in the Brooklyn subway shooting has been arrested at Baxter covering it all from the Bloomberg newsroom in San Francisco Eddie Yeah his name is Frank James.

Singapore Bloomberg interactive broker Juliette Sully Brian Curtis Bryan Hank Singh bank of Korea bank of Canada monetary authority of Singapor China Chris Waller Bloomberg Doug Hong Kong
"turkey central bank" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:34 min | 9 months ago

"turkey central bank" Discussed on Bloomberg Radio New York

"Of course shares in Asia are down this morning Three tenths of 1% for the MSCI Asia Pacific index It's Internet companies that seem to be suffering the most The hang saying tech index down around 3% We had poor results out from Baidu and Billy Billy essentially pressure on Baidu's advertising business Cena's lasting longer because China is suffering from more COVID cases Also futures this morning for U.S. markets Ashley just about positive for the S&P 500 up by two tenths of 1% even though we had again some slightly worrying news out of target whose share price slumped because the retailer warned about rising cost pressures in America U.S. and features in the green European U.S. stock 50 features also just about up by a tenth of 1% Once about 5 8 4% for U.S. benchmark years down by a basis point so there is still the concern around inflation trade is really weighing the risk of fast and monetary policy tightening essentially out of the fed As for oil markets we are down 1% training at 77.57 for WTI crew features Brent crude also below 80 This as the U.S. and China both seem to be considering releasing our oil from their strategic reserves Turkey Central Bank rate decision expected to deliver another cut 150 basis point interest rate cut but then the lira has slumped 28% against the dollar thereabouts this year we continue to see it slide this morning softer 1% That is a Bloomberg radio business flash now here's the endgames with more and what's going on around the world Caroline good morning and.

Baidu U.S. Billy Billy Asia Pacific Cena Asia China Ashley Turkey Central Bank S fed Caroline
"turkey central bank" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

05:35 min | 9 months ago

"turkey central bank" Discussed on Bloomberg Radio New York

"Fed hikes so we're going to track the inflation story for you today also go live to Singapore but Tom want to mention a couple of things happening in the UK So the governments were revealing its rail plan today That's about the leveling up agenda But it looks as if the heat from the sleaze scandal for the prime minister at least seems to be lessening and subsiding after he faced a whole load of questioning yesterday and had to sound pretty contrite But on the kind of more business front Goldman Sachs I notice as expanding its private wealth advisers here in London to target the ultra wealthy So is this really the drive of London now post Brexit And that follows a story that we saw yesterday about some businesses as well expanding their office footprint in London as their turning more bullish on the prospects in the capital So that is certainly a trend that we should be watching and on the Brexit front on front page of the FT they have a story about how Boris Johnson may call the truce when it comes to Brussels and his threats because of some of the domestic issues that are piling up Yeah absolutely It looks like the government is still mulling what to do with article 16 and the Northern Ireland protocol Anyway let's move on talk to you about what's happening in the markets this hour So shares of intimate Internet companies have suffered particularly in Asia and across the board you see Asian stocks down MSCI Asia Pacific index down three tenths of 1% But the hang sang tech index itself dropped around 3% poor results from Baidu and Billy Billy Treasury's this morning looked to be fairly steady as for the futures markets after European stocks yesterday were again at record highs Your stock 50 futures actually flat S&P 500 even if features up by a tenth of 1% We are watching for a Turkey Central Bank rate decision Of course the Turkish lira has tumbled some 28% against the dollar so far this year and it continues to drop this morning against the Euro and the dollar and 1.67% Oil also down as $77 76 That's about oil reserves around the world Okay for more on the markets let's bring in Bloomberg's cross asset editor Do you want to good morning Joanna Tell us about the latest when it comes to the world's most indebted developer evergreen that crisis What has been developing that Hey Tom So there's a lot going on today actually It firms announced plans to raise $2.4 billion in just the past 24 hours This is Chinese developers and related companies So the total over the last week is at least $4.2 billion So ever grand is divesting its stake in hang ten network which netted it about 273 million and sent Pennington as much as 28% higher and we have agile group selling exchangeable bonds in Kaiser group selling land So there's a lot of that activity going on right now Okay so that's on evergrande What about yen volatility that has really spiked Yeah Caroline so the cost of hedging short term moves in the end has reached a one year high So the market is clearly pricing in some elevated swings in the near future So a lot of that is probably based on anticipated inflation as well as higher volatility and treasuries just looking at how Central Bank policy choices might be affected So the dollar yen pair has seen a lot of sudden moves this month as the traders are parsing potential price increases and those Central Bank choices Okay blue bugs cross asset editor Johannes Thank you very much for that Now let's move on and talk about the Bloomberg new economy forum which of course is taking place in Singapore this week plumes sherry air is joining us now live from the event sherry and good morning Thanks for being with us Hank Paulson's comments on financial decoupling at pretty fascinating What did he have to say Yeah we continue to hear this theme running throughout the Bloomberg new economy form this week on that China U.S. divide And we heard more from the former treasury secretary saying that COVID has added fuel to de integration of the world economy that he sees that partial U.S. China split actually boosts financial crisis risks What that means is that he doesn't necessarily see a wholesale financial decoupling that he doesn't see that this is possible but he thinks that it's likely that any partial decoupling will lead to more to these nations being more susceptible to financial crises So we will be discussing more about China and the global capital markets I do have a panel tomorrow speaking to the Hong Kong exchange CEO Nicolas Agustin as well as achieving ventures founding partner Gary racial about this financial decoupling that we're seeing between the two nations and the implications for innovation Yeah and Hank Paulson as well calling on treasury sector Janet Yellen to continue those conversations with the Chinese vice premier allele as well to mitigate some of those risks And in terms of U.S. China trade tensions sheri I know that this Singaporean prime minister has been making some comments around that area but also on the potential flashpoint of Taiwan Yeah so we heard from lissy and long last night talking about the U.S. China tensions potentially leading to a dangerous misstep He did downplay the immediate risk of war But yes as you mentioned Tom he did say that Taiwan remains a flashpoint And I asked the foreign minister of Singapore VMA creation about this very point this is what he had to say Take a listen The real risk is either an accident or a miscalculation.

London MSCI Asia Pacific Billy Billy Treasury Turkey Central Bank Kaiser group Singapore Boris Johnson Goldman Sachs Baidu Hey Tom Johannes Thank Central Bank Brussels
When Currencies Fail: Bitcoin Google Searches in Turkey Rise 400% as Lira Crashes

CoinDesk Podcast Network

07:58 min | 1 year ago

When Currencies Fail: Bitcoin Google Searches in Turkey Rise 400% as Lira Crashes

"Let's move to our main discussion and there are really two parts of the story that we're going to cover. The first is the devastating crash of the turkish lira. The second is the response of people in that country who found their money worth dramatically less than it was just a few days before first of all what happened between sunday evening and monday. The turkish lira fell as much as seventeen percent against the dollar ultimately landing around ten percent down. Turkish stocks also crashed the benchmark borsa. Istanbul one hundred stock index was down as much as nine point four percent which is the biggest sell-off since june. Two thousand thirteen. The nasdaq listed shares. Msci turkey efl seventeen point five percent pre market in the us. The cause of all this on early saturday morning. Turkish president aragon unexpectedly fired nasi ball. though central. Bank governor who had been appointed in november at the center of their disagreement was how to approach inflation. So let's step back and actually look at the scenario inherited oddball. He was the third central bank governor in two years in november the year that he came to power the annual inflation rate was fourteen point zero three percent. According to the turkish statistical institute by december it was up to fourteen point six percent now these are just official numbers and some argue that it's actually much higher on november twelfth twenty. Twenty johns hopkins. Economists hanky tweeted everyday. I accurately measure inflation in turkey today. Measure it at thirty five point six one percent this year as opposed to the official number of eleven point eight nine percent after that fourteen point six percent number came out in december. He said that it was actually twenty. Five point eight five percent per year even holding that aside if you just take the official number nearly fifteen percent inflation a year a staggering that means a having of your purchasing power every year and this has been going on for a long time sue from three hours capital tweeted last night fun fact. The reason turkish lira is t. r. l. is because they've already redenominated before due to massive hyperinflation. Let's add a little more color than about the previous year and a half. The central bank had been keeping interest rates low or at least below consumer inflation. And as we've discussed before on this show. Negative real rates mean investors are discouraged from holding that sovereign debt as well as from holding lira or lira-denominated assets. These have been the policies for eighteen months or more and by fall. The currency was at all time. Lows added to. This fire was the way the turkish central bank had been trying to prop up the lira. Selling more than one hundred billion dollars in us foreign reserves in order to keep the lira from completely cratering in the process this destroyed and depleted their foreign exchange reserves and lead them to actually owing more dollars to turkish banks than the central bank actually had determined. Opposition leaders ask for judicial probe into the official reserves as of november. The country looked to be heading to a full on balance of payments crisis. And on top of this there have been major questions around the independence of the central bank from president. Aragon aragon infrequently given the central bank direct monetary policy instructions had dismissed two governors in the previous sixteen months effectively. When we really take a step back. Turkey has been on the see-saw between currency crisis and inflation. On the one hand and massive austerity and growth slowing interest rate hikes. On the other a currency crisis twenty eighteen led to increase interest rates. And by summer of the next year aragona points quote a friend to cut rates by mid-november when oddball came in it was a swing back to the interest rate hikes austerity side of the pendulum. The first act of akbal as he came in was to immediately raise the central banks one week repo rate which is an interbank lending rate from ten point. Two five percent to fifteen percent now. Interestingly this had started to work things were looking more positive from currency perspective at least in early. Twenty twenty one. Daniel call tweeted this morning. The turkey central bank helped make lira one of the best currencies versus the us d- in twenty twenty one curbing money supply growth via rate hikes helping reduce inflation. The turkish lira was up three point zero seven percent from december thirty first twenty twenty two march nineteenth. Twenty twenty one. It had been down twenty percent the year before it also saw something like fourteen to twenty billion of foreign fund inflows into turkish assets over that same period which reversed years of the opposite direction. Basically the interest rate hikes austerity were performing well in the context of global currency markets. But ogbah clearly didn't believe inflation was getting under control to the degree that he wanted to. He raised rates again to seventeen percent and then finally on the thursday before his dismissal raise them much more than expected to full. Nineteen percent and so the pendulum is swinging back again from interest rate hikes and toward at least in the minds of investors runaway inflation. The newly appointed governor saheb cops. Yo glue said that beating. Inflation is the bank's main objective but also said that they're committed to lowering borrowing costs and bolstering growth. Money managers. basically think he's going to be forced to lower interest rates and accept currency depreciation and indeed the other place. This is showing up is in the cost of insuring. Turkey's government debt against default the price of which rose more than fifty percent over the weekend. What's more this move. And the switch. From ball to cops iaglu super reinforces the narrative that central banks lack independence from erdogan. As well casio glue is a party. Loyalist bloomberg's chief emerging markets. Economists said quote the hit to the central bank's credibility and independence can't be overstated to gone has battered the institutions with interventions that have repeatedly financial markets. Were willing to give ball a chance. His successor will find it hard to build that trust again. So let's talk now about the other dimension to this that you might have caught if you were on twitter. Google searches for the term bitcoin in turkey more than quadrupled over the weekend after akbal sacking wise. That happening while one part of it may be the idea that bitcoin provides in inflation hedge and just a different currency to get away from lira volatility. Which by the way all it using bitcoin to get away from volatility where they don't tell you when they're trying to critique bitcoin is that people can stomach more volatility if there's some possibility that those seventeen percents swings or also to the upside as well but the other part of it is that as i mentioned the new governor has said that they are committed to fighting inflation but doesn't want interest rates to be the tool because they messed with growth. What are there other tools then. Bing bing bing capital controls restricting the flows of capital out of lira and lira-denominated assets so one question might be alongside. Google searches is are we. Seeing an increase in exchange activity owner goes pack. A consultant at the bbc turk pro exchange said that there was a spike in volume and that it was four both usd t tether as an alternative to us dollars and bitcoin on btc turk the bitcoin turkish lira pair has the highest volume with the tether turkish lira pair being the second highest now. This situation is going to evolve a lot. And i think on the one hand you have to just heartbroken. For the turkish people who are stuck between the whims and machinations of politicians and global economic flows that they have no control over when it comes to how much this new set of crypto and digital assets can actually help them escape from those pains. I've said numerous times. One of them remarkable things about this moment isn't that bitcoin and digital assets are going to save everyone from the follies of local currency regimes. That's just not realistic yet. What's remarkable is that for the first time ever the entire span of human history. There is a convenient easy permission. 'less ramp from those regimes for those people. Who have the technical know how to do it. The number of people who have that know how is an ever expanding group and that means that bitcoin and digital assets at an x factor to every single currency crisis. From here on

Turkish Statistical Institute Turkey Aragon Aragon Aragona Akbal Msci Daniel Call Aragon
"turkey central bank" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

06:20 min | 2 years ago

"turkey central bank" Discussed on Bloomberg Radio New York

"The two of them as Anna Edwards in London, and we're thrilled she's with us today, off of the Fed Minutes on Edwards, the market's adjust and boy, do they readjust back? Today, Steve Angle under over its standard charter with a blistering blistering note about about the Fed minutes being Rian interpreted, and we've got some breaking news. I don't know if you see it there at your home in London, but this is critical. The Turkey leaves their rate alone and we get Turkish weakness here. Off of that headline. Mr Erdogan just simply doesn't want to raise rates an A. Does he Yeah, absolutely. Yeah. Circumstantial back then leaving there one week repo rate at eight and a quarter percent. The big picture. Here is, of course, that many economists saw this coming but also thought that the turkey central banks should hike rates because the interest rate in Turkey is well below inflation. And that kind of makes Turkey stand out on a number of measures. There also spending their FX reserves to try and proper that lever trying proper that currency And so we were talking about a Turkish crisis back in 2018 delivery is much weaker now or it is weaker now than it Wass back then we'll talk more about emerging markets later in the program will do that, of course. And of course, Lear again has been stronger. The last 12 12 hours, 24 hours and weekends demonstrably here off this. Ah, leaving of rates. Higher interest rate gives us strength to a currency. At least that's what the textbooks I say right now, and you know, I could do the day to check right now Features negative six. We're back 23.5 to a cz. Well, yields come in again Yields higher off the Fed minutes Uproar and they've come right back in 10 year Yield 100.65% And I wanted to give us a morning brief. I will give you the morning briefing also tell you that European equities are off their lows of the session. For what That's worth incentive the morning brief. Then I turned first to Europe. We've got TCB accounts coming hot on the heels off the Fed minutes, which we got yesterday. Of course. So those easy be accounts for the month of July. They come at 7 30. Will they give exclusive about the next? Is that a step of next piece of action that we see from the CB in the In the in the assistance of the recovery for the eurozone will be September December. They'll have more data to play with them. A 30 initial jobless claims will we continue to see a drop in the number of people coming forward to claim that benefit on nine PM is the final nice off the DNC? The Democratic National Convention? Joe Biden, of course, will make his proper appearance. We've seen him fleetingly through the week, haven't we? But he he takes to the stage tonight. Well, that is a tradition within a large convention and the president, you know, wave From a hotel room in the old days and and such. And of course, the tradition continues, as we see with Ah ah, Mrs Biden and Ah Kamala Harris, his husband as well Right now, let us get back to the markets in the great indecision, the choices to be made forward. We could do that with a gentleman that looks at fixed income opportunities. That black Rob Bob Miller has decades of experience in fixed income. You've got a strategic opportunities. Fun, Mr Miller. I'm absolutely fascinated. Where's the opportunity right now? Ah, good morning bombing Anna. Thanks for meeting me out here to be on here with you this morning. So one of the interesting implications of the Federal Reserve having so aggressively position, the monetary policy and a way to support the republic from the covert virus. That they rendered large parts of the fixed income mark that's relatively unattractive. Therefore, in order to find income, you have to go to the places where they said is not directly intervening. So think about places like the securitized market come early morning gives or Cielo. Non agency mortgages. And perhaps even a B s, a swell parts of the high yield market where the head is not directly for being to suppress risk premium in a way that supports domestic financial conditions. With. You know, if you have the proper credit selection, analytical skills, that's platforms that they do. That should be quite well over the next couple of years. That's where the which Opportunities exist today is dividend. Gross dividend income growth is that an income substituted yield substitute Yeah, I think it is. It's a very fair question, and I weigh as a group have been leaning forward, less simple duration. And in your core politicos and more equity like exposure across a variety of different portfolios. Regardless of what you been, stranger. I think you're supposed to be leaning in that direction. Good morning T from lands and let me ask you about a little more your response to what we heard from the feds yesterday. Clearly, some people had expected or wanted to hear more about average inflation song using Do you still expect that too common and if so, in what sort of time Horizon Absolutely. And also I think the expectations of clarity on average inflation targeting via the minutes, which was a bit misguided, In my opinion, I have no I d no doubt we're going to. We're going to hear from the Fed on that topic. I think we may hear from them on that bomb is as soon as next week. During the virtual city Fed, you know, the typical Jackson hold conferences is late next week virtually here, but it's important to pay attention to the that the title of that of that conference or symposium. It's navigating the decade ahead. Implications for monetary policy. I think average inflation targeting in the framework review. It's perfectly is perfectly consistent with that with the title of that symposium, and I would expect that will get more information about this. Late next week, and then a full review at the September 11 say, I do think this is this is a revolution in monetary policy. Yes..

Federal Reserve Turkey Joe Biden Anna Edwards London Mr Erdogan Rob Bob Miller Steve Angle Europe Rian DNC Wass Lear CB president Jackson Kamala Harris eurozone
"turkey central bank" Discussed on KQED Radio

KQED Radio

02:44 min | 2 years ago

"turkey central bank" Discussed on KQED Radio

"The world video distributed by the foreign ministry shows a Turkish military cargo plane delivering supplies to the U. S. including medical masks gloves gowns and other protective equipment president Recep diapered one called the flight gestures of solidarity with Turkey's NATO allies and others but not everyone agreed a lawmaker from the Anatolian city of Bushehr tweeted that there were shortages of supplies in hospitals there as well as the need for more masks and protective clothing why he asked want Turkish citizens being taken care of first at the same time economists begin to point to the sharp drop in Turkey's foreign currency reserves and raising red flags about the value of the Turkish lira the government's message was essentially don't worry giving in religion or second thoughts on the whole not Turkey central bank governor stepped forward to focus on a rare bright spot amid a plunge in productivity and consumption inflation was also coming down he said but economists and political analysts until yes a Lotta says people are increasingly worried that the Turkish currency could suffer a huge drop in value triggering rising inflation it is not a consensus in the economist community and more importantly the trader community that the central bank reserves are so low that they can't stop an attack on the Turkish lira and that by itself is a self fulfilling prophecy economists estimate that Turkey could see its GDP shrank by nearly a quarter and list brought in heavy public supports are quickly launched economic turmoil in the uncertainty about how long it might last could have serious political consequences for everyone elections are scheduled until twenty twenty three but some of Erdogan's former top allies have left to set up rival political parties and are preparing to oppose everyone's expected bid for another five year term in office if party leaders begin to sense that everyone is losing what yes a lot of calls his magic touch with the voters there could be a move to bring elections forward especially he says it fears of a currency collapse continue to rise Mr Erdogan has at most two or three months it's too successfully wind down this epidemic as well as to breathe some life into the economy without a currency crises in the meantime the Turkish medical association has called on the government to be more forthcoming about the measures it's taking to combat the pandemic at home Peter Kenyon NPR news estable this is NPR news over to Pleasanton and interstate six eighty Joe McConnell has some traffic.

president Turkey Bushehr government Mr Erdogan Turkish medical association Pleasanton Recep diapered NATO Peter Kenyon NPR Joe McConnell
Turkey central bank faces key rates decision after lira weakness

BTV Simulcast

01:27 min | 2 years ago

Turkey central bank faces key rates decision after lira weakness

"What interest rate decision that day and Turkey and economists are pretty undecided about what the central bank is going to do now nineteen out of twenty seven economists polled by Bloomberg do believe we're going to get a cut of some sort but they're not they're not in agreement on exactly what that's gonna be is gonna be twenty five basis points seventy five basis points those all in the cards there we are also seeing some names line up on the side of hold Morgan Stanley Barclays HSBC economists not so sure we see any movement at all now if you go with me into our GTV go we'll see what we've seen over the past year which is the twelve point seven five point four percentage points of interest rate cuts that then the blue there we've seen that the stock market's rise we've seen manufacturing expand but we've also seen inflation at tech higher in the white there are so will this easing program continue present everyone has some unconventional views about what monetary policy a you know does here but we may see the central banks are to react to this higher inflation rate one place we are gonna be watching though is the Turkish lira yesterday hitting a nine month low against the US dollar is the moving quite a bit so far this year weakening there and so we're we're going to be that we know which way the momentum is going here but what is the impact we see today

Turkey Bloomberg Morgan Stanley Barclays Hsbc United States
"turkey central bank" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:19 min | 3 years ago

"turkey central bank" Discussed on Bloomberg Radio New York

"Would be like a rock but what a lot of it but we don't know what they're doing he started the weekend made those remarks and wrapped it up the same way saying yesterday that fed policy is suppressing gains in the stock market the comments come as German Jerome Powell prepares to deliver his semi annual testimony to Congress this week we'll bring that to you live on Bloomberg radio and television beginning Wednesday meanwhile in Turkey the lira is weakening sharply after president one replace the governor of that country's central bank we get more from Bloomberg Kathleen Hays era on has been very critical he suppose moves by the central bank of Turkey in the past nonetheless this was not really expected it was announced early Saturday he said he was using his executive powers to do so you can only imagine the Donald Trump wishes he had those and he replaced it more checking chi yeah with the deputy governor who's only been in place since twenty sixteen come from banking background and your meeting on July twenty fifth and they were expected to cut rates anyway this just makes it more difficult for the move undermines the independence of Turkey central bank and that has the leader weakening this morning it's currently down one point seven percent and five point seven two seven eight angry is center right party leader carry on because Mr Takis takes over as prime minister today we want to drive a real reform agenda for the country that is ambitious very bold and very very detailed the New Democracy party one about forty percent of Sunday's vote in Greece and now it needs to tackle a number of the lingering economic problems lowers Maria today reports from Athens is ms attack is the winner of the election and it doesn't get more mainstream them as attack is someone who is pro business pro investment and one of the things that he really wants to do is to attract money into this country to kick start growth he talks about four percent GDP annual growth and he also once in fiscal anyway to be able to do that I spoke to him yesterday night and Athens and he told me his number one priority will be to go back to Brussels and make sure that he can get some physical room to put in place the federal taxes and the cuts that he wants to implement a very much from the get go bonds ingresar rallying on the news with yields on Greek ten year notes hitting a record low thank here in the U. S..

prime minister executive Kathleen Hays Bloomberg Brussels Athens Maria Greece Mr Takis Donald Trump president Turkey Congress Jerome Powell forty percent seven percent four percent
"turkey central bank" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:59 min | 3 years ago

"turkey central bank" Discussed on Bloomberg Radio New York

"I'm Susanna Palmer from Bloomberg world headquarters Deutsche Bank is undertaking a radical overhaul as it tries to reverse a slide in profitability it's exiting it's equities business posting a three point one billion dollars second quarter loss and will cut the work force by a fifth about eighteen thousand jobs chief executive officer Christian seven has canceled the dividend this year and next and we'll take restriction charges of eight point thirty one billion dollars to twenty twenty two Deutsche Bank said retail chief Frank Strauss and chief regulatory officer so be met here at both board members will leave this month the departure of investment bank had Garth Richie was announced on Friday the lira is slumping as Turkey's central bank governor was fired by Turkish president Recep Tayyip Erdogan for keeping borrowing costs elevated I know everyone is making it clear that he expects both the successor in that job and the rest of the establishment to tow the government's line on monetary policy Bloomberg has learned to one told lawmakers from his ruling party politicians and bureaucrats all need to get behind his conviction that higher interest rates because inflation Bloomberg has learned a fund manager Jeffrey Epstein was arrested by federal authorities yesterday and charged with the sex trafficking of minors apps dean is expected to appear in Manhattan federal court tomorrow suspicions about abstain have swirled for more than a decade he pleaded guilty to two counts of soliciting a prostitute in two thousand eight and served thirteen months in jail while avoiding more serious charges now new victims are said to have come forward we work companies plans to raise as much as four billion dollars in debt in the next few months this ahead of its initial public offering that according to the Wall Street journal citing people familiar with the matter global news twenty four hours a day on air added tictoc on Twitter powered by more than twenty seven hundred journalists and analysts in more than one hundred twenty countries I'm Susanna Palmer this is Bloomberg.

Manhattan fund manager president Bloomberg world Twitter Wall Street journal Jeffrey Epstein Susanna Palmer Bloomberg Recep Tayyip Erdogan Turkey Garth Richie officer Frank Strauss chief executive officer Deutsche Bank
"turkey central bank" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:00 min | 3 years ago

"turkey central bank" Discussed on Bloomberg Radio New York

"And I'm Susanna Palmer from Bloomberg world headquarters Deutsche Bank is undertaking a radical overhaul as it tries to reverse a slide in profitability it's exiting it's equities business posting a three point one billion dollars second quarter loss and will cut the work force by a fifth about eighteen thousand jobs chief executive officer Christian seven has canceled the dividend this year and next and will take restructuring charges of eight point thirty one billion dollars to twenty twenty two door to banks and retail chief Frank Strauss and chief regulatory officer so be met here at both board members will leave this month the departure of investment bank had Garth Richie was announced on Friday the lira is slumping as Turkey's central bank governor was fired by Turkish president Recep Tayyip Erdogan for keeping borrowing costs elevated I know everyone is making it clear that he expects both the successor in that job and the rest of the establishment to tow the government's line on monetary policy Bloomberg has learned to one told lawmakers from his ruling party politicians and bureaucrats all need to get behind his conviction that higher interest rates because inflation Bloomberg has learned a fund manager Jeffrey Epstein was arrested by federal authorities yesterday and charged with the sex trafficking of minors apps dean is expected to appear in Manhattan federal court tomorrow suspicions about abstain have swirled for more than a decade he pleaded guilty to two counts of soliciting a prostitute in two thousand eight and served thirteen months in jail while avoiding more serious charges now new victims are said to have come forward we work companies plans to raise as much as four billion dollars in debt in the next few months this ahead of its initial public offering that according to the Wall Street journal citing people familiar with the matter global news twenty four hours a day on air added tictoc on Twitter powered by more than twenty seven hundred journalists and analysts in more than one hundred twenty countries I'm Susanna Palmer this is Bloomberg.

Manhattan fund manager president Bloomberg world Twitter Wall Street journal Jeffrey Epstein Susanna Palmer Bloomberg Recep Tayyip Erdogan Turkey Garth Richie officer Frank Strauss chief executive officer Deutsche Bank
"turkey central bank" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:04 min | 3 years ago

"turkey central bank" Discussed on Bloomberg Radio New York

"And chief regulatory officer Sylvie met here at could be announced as early as tomorrow Bloomberg banking reporter Steven Aronson Frankford says Deutsche Bank is changing from an investment to a transaction bank CEO Christians having has decided to pull the plug on large part of the trading business and refocus the bank on its traditional focus on corporate clients Lindberg expects to hear more about the restructuring including thousands of job cuts tomorrow investors around the world are taking notice of what's going on at the top of Turkey's central bank Turkish president Recep Tayyip Erdogan unexpectedly removed to the country's central bank governor there to one has been frequently and sharply critical of the Turkish central bank for keeping borrowing costs elevated a replacement has been named here in the US president Donald Trump renewed his attacks on the federal reserve suggesting the central bank is harming US interests out of ignorance trump and Twitter posts await yesterday said our most difficult problem is not our competitors it is the federal reserve and the fed has raised rates too soon too often and doesn't have a clue officials in the district are pushing back against an unsubstantiated claim by president trump that he orchestrated a purge of homeless people to shield visiting foreign dignitaries from having to see them it was among a series of also the level by trump in recent days as he has seized on the homeless epidemic global news twenty four hours a day on air added tictoc on Twitter powered by more than twenty seven hundred journalists and analysts in more than one hundred twenty countries he need on Bloomberg radio for you news comments and insights from Bloomberg opinions worldwide team of editors and columnists I'm your host June Grasso this week how to sync the pirates plaguing West Africa also on the show why Liz Cheney is the hot for party needs in the Senate plus how Joe Biden can come back from his debate disaster but first U. S. hiring.

fed Bloomberg CEO officer Joe Biden Senate Liz Cheney West Africa June Grasso Twitter Sylvie Donald Trump US Recep Tayyip Erdogan president Turkey Lindberg Deutsche Bank
"turkey central bank" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:36 min | 3 years ago

"turkey central bank" Discussed on Bloomberg Radio New York

"And chief regulatory officer Sylvie met here at could be announced as early as tomorrow Bloomberg banking reporter Steven errands in Frankfort says Deutsche Bank is changing from an investment to a transaction bank CEO Christians having has decided to pull the plug on large part of the trading business and refocus the bank on its traditional focus on corporate clients Bloomberg expects to hear more about the restructuring including thousands of job cuts tomorrow investors around the world are taking notice of what's going on at the top of Turkey's central bank Turkish president Recep Tayyip Erdogan unexpectedly removed the country's central bank governor there to one has been frequently and sharply critical of the Turkish central bank for keeping borrowing costs elevated a replacement has been named here in the US president Donald Trump renewed his attacks on the federal reserve suggesting the central bank is harming US interests out of ignorance trump and Twitter posts await yesterday said our most difficult problem is not our competitors it is the federal reserve and the fed has raised rates too soon too often and doesn't have a clue shows in the district are pushing back against an unsubstantiated claim by president trump that he orchestrated a purge of homeless people to shield visiting foreign dignitaries from having to see them it was among a series of also the level by trump in recent days as he has seized on the homeless epidemic global news twenty four hours a day on air had it checked out on Twitter powered by more than twenty seven hundred journalists and analysts in more than one hundred twenty countries I'm Susanna Palmer this is Bloomberg.

CEO reporter officer Susanna Palmer Twitter fed Donald Trump US Sylvie Recep Tayyip Erdogan president Turkey Bloomberg Deutsche Bank Frankfort Steven errands twenty four hours
"turkey central bank" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:05 min | 3 years ago

"turkey central bank" Discussed on Bloomberg Radio New York

"The region in almost twenty years and I'm Susanna Palmer from Bloomberg world headquarters Deutsche bank's restructuring is likely to claim another management board member Frank Strauss the head of the retail and commercial clients division Bloomberg has learned Strauss is set to leave chief executive officer Christian sewing is poised to announce the largest restructuring in at least a decade at the trouble German bank yesterday it was announced the jointer banks head of the investment bank Garth Richie would leave the trump administration said trade talks with China are starting up again this S. China said it's essential the U. S. remove all existing terror of for a deal to be reached bill winters as CEO of standard chartered he says China will benefit from any talks there will still be a lot of trade between the call of the China seer and the rest of the world negotiations between the world's two largest economies collapsed back in may in part after U. S. officials accused China of backtracking on some commitments Turkey's central bank governor is out of a job Turkish president Recep Tayyip Erdogan unexpectedly removed the country's central bank governor and replaced him everyone has frequently chastised at the Turkish central bank for keeping borrowing costs elevated is it in Donald Trump has continued his attack on the U. S. federal reserve saying it quote raised rates too soon too often and doesn't have a clue our most difficult problem is not our competitors it is the federal reserve the president said in to Twitter posts late on Friday president trump is promising an executive order that he says is intended to enable the US government to pay lower prices for prescription drugs trump says his administration soon would announce eight favored nations clause for the amount paid by the government for a particular drug would not exceed the lowest amount paid by other nations or companies global news twenty four hours a day on air and it took took on Twitter powered by more than twenty seven hundred journalists and analysts in more than one hundred twenty countries I'm Susanna Palmer this is Bloomberg.

US executive U. S. China standard chartered Bloomberg world Twitter president Donald Trump Susanna Palmer Recep Tayyip Erdogan Turkey CEO S. China Garth Richie chief executive officer Bloomberg Frank Strauss
"turkey central bank" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:47 min | 3 years ago

"turkey central bank" Discussed on Bloomberg Radio New York

"And I'm Susanna Palmer from Bloomberg world headquarters Deutsche bank's restructuring is likely to claim another management board member Frank Strauss the head of the retail and commercial clients division Bloomberg has learned Strauss is set to leave chief executive officer Christian sewing is ways to announce the largest restructuring in at least a decade at the trouble German bank yesterday it was announced the jointer banks head of the investment bank Garth Richie would leave the trump administration said trade talks with China are starting up again this S. China said it's essential the U. S. remove all existing terrorists for a deal to be reached bill winters as CEO of standard chartered he says China will benefit from any talks there will still be a lot of trade between the call of the China seer and the rest of the world negotiations between the world's two largest economies collapsed back in may in part after U. S. officials accused China of backtracking on some commitments Turkey's central bank governor is out of a job Turkish president Recep Tayyip Erdogan unexpectedly removed the country's central bank governor and replaced him everyone has frequently chastised at the Turkish central bank for keeping borrowing costs elevated as in Donald Trump has continued his attack on the U. S. federal reserve saying it quote raised rates too soon too often and doesn't have a clue our most difficult problem is not our competitors it is the federal reserve the president said into Twitter posts late on Friday president trump is promising an executive order that he says is intended to enable the US government to pay lower prices for prescription drugs trump says his administration soon would announce eight favored nations clause for the amount paid by the government for a particular drug would not exceed the lowest amount paid by other nations or companies.

US executive Twitter U. S. China standard chartered Bloomberg world president Donald Trump Susanna Palmer Recep Tayyip Erdogan Turkey CEO S. China Garth Richie chief executive officer Bloomberg Frank Strauss
"turkey central bank" Discussed on AP News

AP News

01:32 min | 3 years ago

"turkey central bank" Discussed on AP News

"Related bills are trademarks amazoNcom inquiry. It's not on Amazon. Alexa, functionalities available for in vehicle. Use new feature intended to help riders ensure they're getting into the right vehicles. It comes several weeks after university of South Carolina. Student was killed after getting into a car. She had mistaken for the Uber ride. She hailed the company said it would now begin sending a push notification to riders reminding them to check the driver and vehicle. The alert will include the driver's name photo license plate number and vehicle making model. The future will roll out. I. In Columbia, South Carolina and later nationwide over is also sending emails to every rider to outline the steps to make sure they're getting into the right car. Turkey's president has lashed out at the financial times and other western media, accusing them of falsely portraying the economy as being on the brink of collapse. Rigid. Type who'd one spoke after the financial times reported took he may not be able to defend itself in the event of a currency crisis. It had reported that Turkey central Bank had bolstered its foreign currency reserves. We shot Tim borrowed money. The report led to the Turkish lira. We getting some two percent against the dollar one insisted the economy's standing strong he claimed he was being attacked because it was speaking out against injustices, including about refugees the number of immigration arrest is down significantly from last year. AP's Jackie Quinn reports. Because more federal officers have been needed along the border with Mexico because immigration and customs enforcement is devoting more resources to.

university of South Carolina Tim Amazon Alexa South Carolina Jackie Quinn Turkey central Bank Turkey Columbia president Mexico two percent
"turkey central bank" Discussed on KQED Radio

KQED Radio

01:59 min | 3 years ago

"turkey central bank" Discussed on KQED Radio

"Party suffered some stinging defeats in last month's municipal elections. But it's not clear how quickly the government can turn things around. Economist Attila Lada says promises of economic reform may sound good. But Turkey already has largely business friendly system in place. Case he says reforms are unlikely to amount to much as long as heir to one government remained free to exert political pressure on Turkish institution such as the judiciary in central Bank. It is not that we need reform. We need a change in Tokyo. And we need to understand that this is a country based on institutions and rules. That's a fundamental problem says, yes, you Lada real reforms like making the independence of Turkey's central Bank, part of the constitution would mean limiting air to power something that doesn't seem to be on the agenda. He needs on the stunned that for him and Turkey to bigger pie. He needs to share some of his powers, you tenderly change Torchy's fate by pouring money or favored industries. Here's a lotta also thinks one is courting trouble by allowing tensions with Washington and NATO to increase primarily by trying to buy Russian anti-aircraft missiles at the same time. They're seeking American F thirty. Thirty five fighter jets losing the American warplanes is only one potential downside. He says Turkey, risks provoking, a concerted campaign of international pressure that could trigger another currency crisis. At which point he says the country could find itself in economic trouble. Peter Kenyon, NPR news is dental. This is NPR news seven forty two now. And Joe McConnell's here to bring us another look at this morning Joe suddenly big problem with the bay bridge..

Attila Lada Turkey Joe McConnell NPR Peter Kenyon Washington Tokyo Torchy bay bridge NATO
"turkey central bank" Discussed on WNYC 93.9 FM

WNYC 93.9 FM

01:34 min | 3 years ago

"turkey central bank" Discussed on WNYC 93.9 FM

"Ruling party suffered some stinging defeats in last month's municipal elections. But it's not clear how quickly the government can turn things around. Economist Attila Lada says promises of economic reform may sound good. But Turkey already has a largely business friendly system in place. He's he says reforms are unlikely to amount to much as long as heir to one and his government remained free to exert political pressure on Turkish institution such as the judiciary in central Bank. It is not that we need reform. We meet a change in mental if young we need to understand that this is a country based on institutions, and means that's a fundamental problem says, yes, you Lada real reforms like making the independence of Turkey's central Bank, part of the constitution would mean limiting air to power something that doesn't seem to be on the agenda. He needs on the stunned that for him and Turkey to bigger pie. He used to share some of his powers, you really change Torchy's fate by pouring money or favored industries also thinks air one is courting trouble by allowing tensions with Washington and NATO to increase primarily by trying to buy Russian anti-aircraft missiles at the same time. They're seeking American F thirty. Eighty five fighter jets losing the American warplanes is only one potential downside. He says Turkey, risks provoking, a concerted campaign of international pressure that could trigger another currency crisis. At which point he says the country could find itself in economic trouble. Peter Kenyon, NPR.

Turkey Attila Lada Washington Peter Kenyon Torchy NPR NATO
"turkey central bank" Discussed on WAFS Biz 1190

WAFS Biz 1190

01:42 min | 3 years ago

"turkey central bank" Discussed on WAFS Biz 1190

"Out too. Thanks. He techies banking and capital. Markets regulators opened two separate investigations into J P Morgan this after two analysts from the Bank, recommended investors. Going long on the dollar against the lira on a day when the county lost more than five percent. The analysts had cited a recent dropping turkeys net ethics reserves for the move Turkey. Central Bank was forced to announce a surprise tightening of monetary policy in a beep to stem, the lira's slump. Tim cook takes stage at Steve Jobs feta in Silicon Valley on Monday ways expected to unveil Apple's streaming video. A new subscription services are seen as a key part of Apple's push to transform itself into a leading digital satis provider. The company may even discuss a monthly video gaming subscription. Meemaw, cook is encouraging China to keep hoping our economy in China and make up about a fief of actors revenues and the iphone maker is grappling with demand and uncertainty over trade tensions cook has been a vocal opponent of the US China trade war and at the China Development forum in Beijing, cook said opening up is essential. We encourage China to continue to open up we see that as a central not only for China to reach its full potential. But for the global economy to thrive. And that's your Bloomberg business flash. So let's talk about the Rio Tinto about.

Tim cook China Apple Rio Tinto Bloomberg US Beijing Steve Jobs Silicon Valley five percent
Turkey central bank keeps interest rates on hold ahead of election

BTV Simulcast

02:31 min | 3 years ago

Turkey central bank keeps interest rates on hold ahead of election

"That bro. Let's get back to Turkey central Bank. They're likely to keep rates on hold. When they meet later today with anyone inflation new twenty percent in the leader on the pressure. Again. The Bank wants to avoid the risk of a surprise cut of local elections at the end of the month. It's bringing the Middle East chief economist, the central Bank almost doubled interest rates last time around or at least last year and kept him at that level for the most part of this year. You look at the dovish external environment, the tone of monetary policy could start to think maybe the Sonapur for the Bank to start trimming the back a little bit. Yeah. That's expected to happen. Some point this year. Use it. But it's unlikely to start today inflation has been coming down. It has not been coming down at a pace that that is so bad calls convincing for to start cutting rates. And also the elections said they have to take into account that happening at the end of the month, and the central Bank will probably be averse to want shocking investors before elections at the end of the month. What you might see today to get a rate cut today. But we want what we might see is a change of tone from the central back. There are a couple of hawkish statements, and the central best communication, and these might be tweaked this these are tweak little then that will increase conviction that a writer could happen in the first half of this year. We have a little bit of movement on the trade conversation. We have the function on the Bloomberg which puts into perspective the relationships that Turkey has with its trading partners. You've got your top five years is Germany's the biggest one you've got China Russia, and then you've got the United States. You've got Italy. And the key thing here being the President Trump gave a sixty day notice to remove Turkish imports from duty-free system. What kind of impact is it likely to have given the numbers that you've crunched? Well, if you look at the threat channel, the channel is small checks supposed to the US are only around one percent of GDP and the amount of exports are that have this duty free status is even smallest by zero point two percent of GDP. So the trade channel is really tiny. Where it could be could hurt. The Turkish economy is the sentiment channel let's recall that collation of tensions with the US loss here in the summer was one of the reasons behind the twenty five percent decline in the lira last August, it wasn't the only reason, of course. But it was one of the main reasons and this collection of tension. Could basically prove more damaging to the sentiment on the tech Shikano me, then then

Turkey Central Bank United States Middle East Turkey Chief Economist Bloomberg Donald Trump Writer Italy President Trump Germany China Russia Twenty Five Percent Twenty Percent One Percent Two Percent Five Years Sixty Day
Turkish lira tumbles after central bank keeps interest rates steady

Bloomberg Markets

02:17 min | 4 years ago

Turkish lira tumbles after central bank keeps interest rates steady

"And a look. At, trading could use voice. Charlie well here's what's going on I'm just thinking about all these Alexa. Devices going off across the country. They listen to this broadcast today but right now we've got the SNP up six, up two tenths of one percent the Dow up one hundred thirty nine up six tenths of a percent NASDAQ down sixteen a drop of two tenths of one percent equities fading in the afternoon session NASDAQ turned a negative after an. Initial boost from, the technology sector Google parent alphabet anchoring of big leap after, beating estimates last night right now alphabet is up by three and a half percent Turkey's central banks, stunned investors by keeping interest rates unchanged defying expectations for increased borrowing. Costs. And sending markets in Istanbul tumbling Bloomberg's semen Duncan has, more, from our bureau, in Istanbul Yes he's the investors are losing faith, in the central bank's independence they were expecting a rate hike by. At. Least one hundred basis points and the central Bank fate Failed to deliver anything at, all now of course inflation is running more than triple the. Central bank's target rates and even though since April the central Bank has raised by five hundred basis points investors say that more needs, to be done. To cool inflation the US government is suing fanatics Inc that is sports apparel company whose. Investors include the NFL and major league baseball for racial discrimination harassment and retaliation Ivanka Trump shutting. Down her fashion and footwear company and just getting word from Wells Fargo. It is boosting its quarterly dividend to forty three, cents, a share up from thirty nine cents Wells Fargo, based in, the bay area of four tenths of one. Percent the tenure. Of two thirty seconds yield two. Point nine four percent gold, up one tenth of one percent west. Texas intermediate crude up eight tenths of. One, percent I'm Charlie pelletan that is a Bloomberg business flash thank. You so much Charlie Pellett I'm Jason Kelly alongside Carol Massar we are live at the voice summit The. Wellness and event center on, the. Campus of nj NJIT here in. Newark New Jersey this is Bloomberg radio The focus to add.

Bloomberg Wells Fargo Charlie Istanbul Alexa Charlie Pellett Charlie Pelletan Njit Duncan Ivanka Trump United States Newark Google NFL Baseball
Ed Lee Bloomberg, Volvo and Tesla discussed on Bloomberg Daybreak: Europe

Bloomberg Daybreak: Europe

01:29 min | 4 years ago

Ed Lee Bloomberg, Volvo and Tesla discussed on Bloomberg Daybreak: Europe

"Seen as a, lens into the company's outlook for growth then this cloud Google CEO Sunday pitch I told analysts. Cloud was saying an inflection point, is business accelerates for all of. The big, players you, also highlighted emerging markets is a key However, the future growth particularly around maps. Where the, company wants to boost ads in San Francisco Ed Lee Bloomberg daybreak Europe and analysts are raising new questions for the one hundred thousand time about the future of tesla after it asked suppliers to give back. Some cash Elon Musk insists the new model three will pull his money loser into the black but observers say the appeal could, be a sign that something has. Gone wrong Tesla's spent billions trying to ramp up production and it's feared second quarter. Numbers may be disappointing. Another story from the Cossacks initial feedback. Is said to value. Volvo 'cause fall below owner jellies. Top end estimates for potential listing sources say institutional investors think the maker is worth between twelve and eighteen billion dollars box were told. Volvo and jelly, put the, figure is. Highest thirty billion, dollars closely held, Lee bought Volvo cars back in two thousand ten and according to. People familiar it. Was planning to sell Hsieh's Stockholm and Hong Kong It's due to be a key test of Turkey's central Bank independence when it releases its. Latest monetary, policy decision later today Bloomberg's owner aunt. Has the preview Turkey central Bank will convenience..

Ed Lee Bloomberg Volvo Tesla Cloud Volvo Cars Turkey Turkey Central Bank Elon Musk Bloomberg CEO Google Hsieh Europe San Francisco Hong Kong Stockholm Eighteen Billion Dollars
President Putin confident about Russia's long-term economic growth

The Dana Barrett Show

02:38 min | 4 years ago

President Putin confident about Russia's long-term economic growth

"Citizens have anything to say what's the basis for saying this well putin says we have started on the trajectory towards robust economic growth in russia yes this growth is humble small but it is also not a fall growth was out one percent last year in russia well putin needs oil prices he's got an economy that is about eighty percent dependent on oil prices and missile prices and oil prices have helped him a little bit he does like to stir the pot wherever he can in the middle east or the dakota pipeline trying to impact oil prices turkey's central bank hikes interest straits one hundred twenty five basis points to fly fight inflation you know the reason i bring this up is because you're seeing a global move towards rising interest rate not rising seas remaining icebergs that sampling do but rising interest rates this has a major impact major affect on your asset allocation was who was it the other day a well europe is bringing their quantitative easing to an end they'll be hiking interest rates eventually japan can't lower their rates anymore and of course are fed as on an interest rate hike jamie diamond warren buffett say to end quarterly profit guidance you know on i disagree totally with that i think is good that we companies check in on a quarterly basis they believe that it leads to an unhealthy focus on short term profits at the expense of long term strategy growth and sustainability well i don't know we'll see where that goes but the quarterly earnings reports pretty much or a fixture on wall street and i have a hard time seeing that go away well this is not new news this is probably the this is the probably sell the news moment on the rumor that canada was going to approve marijuana sales nationwide the canadian senate is likely to hit the green light pardon the pun in a sweeping measure on cannabis.

Putin Russia Middle East Europe Warren Buffett Canada Canadian Senate Cannabis Dakota Japan Marijuana Eighty Percent One Percent
China, Bryan Curtis and Hong Kong discussed on

02:14 min | 4 years ago

China, Bryan Curtis and Hong Kong discussed on

"To the enke's four two one win over baltimore glacier taurus shipton with two hits in an rbi for the yankees who have won three straight and are now a season high nineteen games over five hundred gray even says record at four and four allowing one run on four hits with six strikeouts it was the first time in his eleven starts that gray did not issue a walk aroldis chapman struck out the side in the ninth for his thirteen save manny machado hit seventeen home run for the orioles who have now dropped six in a row the nineteen year old julian walking neiman baking justice v start has a shares the lead at muirfield village at the memorial golf tournament with kyle stanley after a four under sixty eight tiger woods got off to a strong start to the memorial the second round but struggled mightily after a ninety minute weather delay missing four punts under seven feet in the final six holes to finish six john's back with nearly two dozen players in front of him at the french open novak djokovic and second seed alexander's veira advance to the fourth round will on the women's side us open runnerup madison keys overcame some late match shakiness to reach the fourth round with a straightset win over naomi osaka of japan will the bloomberg sports update i'm tom rogers this is bloomberg daybreak weekend our global look at the top stories in the coming week from our daybreak anchors all around the world straight ahead on the program i'm bob moon and new york tesla holds a shareholder meeting and apple as its annual developers conference i'll have those stories i'm nathan hager in washington where trade could trump just about everything from the g seven summit to north korean negotiations and i'm markus karlsson in london where we're asking whether more emergency action is on the cards when turkey's central bank meats and in asia we take a look at growth with a special look at china japan and india i'm bryan curtis in hong kong that story coming up i'm danielle boko in toronto where we're looking at how labor strikes in the transport sector have exposed and kelly's he'll for commodities markets that's all straight ahead on bloomberg daybreak on bloomberg eleven three oh new york bloomberg ninety nine one washington dc bloomberg one zero six one boston bloomberg nine sixty san francisco siriusxm channel one nineteen and around the world on bloom radio dot com and via the.

China Bryan Curtis Hong Kong Danielle Boko Kelly Bloomberg Baltimore Glacier Gray Asia London India Toronto Boston San Francisco Siriusxm Japan Manny Machado Orioles