Market Commentary by Simin Demokan, Bloomberg Istanbul, “In Development”, 02/09/2022
14:30 | September 2, 2022
Bloomberg TV Bulgaria
The pound is on course for its seventh straight weekly loss, trading at 18.2 to the dollar. Meanwhile, Turkish stocks are on course for a seventh week of gains – the longest weekly winning streak since April. That’s what he said Simin Demokan, Bloomberg Istanbul, in the program “In Development” with presenter Veronika Denisova.
Annual retail inflation in Istanbul accelerated to nearly 100% in August. Turkey’s consumer price index data for August will be released next week.
Turkey’s inflation rose to a new 24-year high of nearly 80% in July amid continued weakness in the lira and as global energy costs pushed prices up.
Instead of raising the key interest rate to tame inflation, Turkey’s central bank has increasingly relied on macroprudential measures to curb loan growth and support the lira.
You can watch the entire comment in the video.
All guests of the show “In progress” you may find here.