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Old 9th September 2019, 16:15   #2571 (permalink)
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Re: Watch The Lira Now

Quote:
Originally Posted by enoch View Post
You may be right Enoch about the son in law ...

Abdulkadir Sevi, Hürriyet columnist who is known for his closeness to the AKP,published today in Hurriyet "Cabinet change when?" He signaled that there might be a cabinet change in the AKP................ Selvi said in his article: "When asked about a cabinet change, Erdogan had said,"If we need to do something like this, we will do this"

Selvi, also noted in the article the Treasury and Finance Minister Berat Albayrak has not attended meetings for a while "

https://www.birgun.net/haber/akp-li-...kalandi-267745
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Old 9th September 2019, 16:36   #2572 (permalink)
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Re: Watch The Lira Now

Dask Insurance price hike and various applied discounts cancelled....


Translation...

The mandatory earthquake insurance (TCIP) minimum premium amount has increased from 9.1 percent to 15.79 percent.
With the new regulation, the lowest DASK premium in Istanbul rose from 95 lira to 110 lira and in Ankara from 45 lira to 50 lira.

The TCIP reductions applied to new houses were abolished and the premium load of all houses built before 2000 was increased. The collateral increased with the premium.

Higher Premium

The Ministry of Treasury and Finance made amendments to the Mandatory Earthquake Insurance Tariff and Instruction Communiqué and increased the premium amounts of the earthquake insurance, which is obligatory to be made every year, as well as changes that increase the premium burden of the citizens.

With the change made, masonry masonry structures were extracted from the triple structure which was previously in the form of reinforced concrete, masonry masonry structures and other structures.

Thus, while the structure used in the calculation of premiums was reduced to two, the housing of the masonry masonry buildings, which are very common throughout the country, paved the way for higher premium payment.

Higher Premium older buildings

In practice to date, a 10 percent reduction was applied to the premiums of relatively new buildings that received building permits in 2007 and beyond. With the new regulation, this discount was abolished altogether and it was decided to pay DASK premium of all buildings that were built before 2000 and with a 10 percent increase.

In addition, the new regulation by the building or site management insures that all residences are applied to the 20 percent reduction in premiums have been removed.
Instead, a 10 percent reduction in the premium for buildings with 3 or less floors, and a 10 percent increase in the premium for buildings with 8 and more floors was introduced. DASK'ın 3 years in a row, the 20 percent discount applied to those who have been regular.

DISCOUNTS ENDED

With the new arrangement, 10 percent discount to those who renewed DASK within 30 days remained the same. On the other hand, all discounts except for the renovation allowance of the residents of buildings other than reinforced concrete structures were terminated.

Risk groups will be determined
With the new arrangement, the maximum amount of collateral that can be given for a dwelling was increased from from 190 bin liradan 215 bin liraya without making any distinction between the style of construction.

In addition, the insurance cost of the square footage of the base price of steel, reinforced concrete and carcass structures from190 bin liradan 215 bin liraya yükseltildi to bin 20 liraya , 635 liradan to masonry masonry structures from 635 liradan 725 liraya, 310 liradan to other structures were increased to 355 liraya. Earthquake risk groups, Earthquake Hazard Map of Turkey resources, soil conditions and will be determined using the attributes of the building.

https://www.birgun.net/haber/zorunlu...ina-zam-267622

https://www.sozcu.com.tr/2019/ekonom...geldi-5322405/
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Old 12th September 2019, 12:55   #2573 (permalink)
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Re: Watch The Lira Now

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Old 12th September 2019, 13:51   #2574 (permalink)
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Re: Watch The Lira Now

Lira Surges.

While the Turkish lira's status as the world's favorite carry currency is disappearing with every central bank rate cut, today's news that the CBRT cut rates by a more than expected 325bps from 19.75% to 16.5% (consensus expected a 17.25%), although less than the whispered 500bps (following Erdogan's warning that a major rate cut was coming), and down from a recent high of 24%...
(chart omitted)
... was enough to send the USDTRY tumbling - at least in initial kneejerk reaction - from 5.75 to 5.6830, after the central bank forecast inflation dropping beneath its July forecasts therefore expecting it to get back to target quicker than previously and signalling a normalizing economy following last years lira crisis.

While the rate cut was greater than expected, with Turkey's inflation now surprisingly running far slower than most had expected in recent months, at just 15%, the real rate is still a solid 1.5%, even if it moves Turkey toward the end of the pack of major EMs in terms of real rates. Of course, how much the inflationary print is accurate, and whether any of the underlying economic assumptions reflect reality in Turkey rather than just what Erdogan wants - and just like Trump, Erdogan wants much lower rates reality be damned - is a different matter entirely.

https://www.zerohedge.com/markets/tu...-more-expected
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Old 12th September 2019, 14:50   #2575 (permalink)
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Re: Watch The Lira Now

Quote:
Originally Posted by Camden View Post
You have seen it here .... the son in law Treasury and Finance Minister has said Turkish inflation will be down to single figures in 3 months in September or October and with it interest rates... ..... really ....hope its better than his past predictions...

Albayrak'tan üç aya kadar tek haneli enflasyon vaadi - Diken
The rumors of the son in law Treasury and Finance Minister losing his job, came to nothing , even though he never met his inflation target prediction of a single figures by now (even with the new accounting of the inflation ) and even with the members of the Finance Ministry team being divided on dismissing him ....the boss had the final say ( doesn't he always ) and said he will stay for the time being.

The new news of Halk ekmek ( for lower income families) and bread & simit price rises some by 40% wont help in his inflation rate target .....

https://www.birgun.net/haber/halk-ek...-40-zam-268246

Last edited by Camden; 12th September 2019 at 15:13..
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Old 22nd September 2019, 15:31   #2576 (permalink)
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Re: Watch The Lira Now

Have a look at the way the exchange rate has moved recently.
We came over early hours Tuesday 18th and brought sterling with us to pay all our bills etc for the preceding season.
Went to the bank on the 18th.
If anybody needs advice on when to change money or what is likely to happen with exchange rates I am more than happy to let you know when I intend to change my sterling.
All those currency speculators eat your hearts out.
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Old 22nd September 2019, 15:42   #2577 (permalink)
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Re: Watch The Lira Now

Personally I would hold off changing. If the court case goes against Doris the I think that sterling will rise for a few hours. I would be looking to change then, but what do I know?
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Old 4th October 2019, 09:14   #2578 (permalink)
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Re: Watch The Lira Now

The FT reports inflation is falling again.

https://www.ft.com/content/6a17fc52-...3-db5a370481bc
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Old 4th October 2019, 14:22   #2579 (permalink)
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Re: Watch The Lira Now

I am in Istanbul at the moment both for business and visiting friends, after speaking with them and confirmed by the few independent news papers it seems the figures don't stack up, and are being questioned by the Public, opposition Politicians and Economists .

It also seems they have held back another price increase due for Electric

Economist İbrahim Kahveci commented on the recent hikes in electricity and said, “Another 25 percent price increase for electricity is waiting in the pocket kul.

İbrahim Kahveci's article titled ne When is the new electricity hike?, Published in the newspaper, “Since February 2018, 58.5 percent increase has been made to electricity, but at the same time, the gas sales price of BOTAŞ to natural gas thermal power plants is 100 percent. Kahveci said, "Natural gas-electricity production costs should be a way to go and a reduction in natural gas sales prices or raise a 25 percent raise rate for electricity is waiting in the pocket," he said ctd

https://www.birgun.net/haber/elektri...geliyor-271144
The response to these figures, which seem far from the truth. Translation

Economists did not find convincing the optimistic picture in TurkStat's September inflation data. Stressing that the inflation experienced by the people is much more serious.

economist Ugur Civelek, TurkStat data is not normal, he said. Civelek's assessment is as follows:

“There is an increase of 0.99 in September. Looking at the sub-details, it is not normal that in September, a 0.6 percent decrease in food, an increase of only 2 percent in clothing and footwear, new season products and prices since the beginning of the year have been decreasing. Packaged packaged products in weight, different in quality. The price is still in the markets where foodstuffs sell at a loss according to the price of arrival. These are not general prices. There is political pressure in places where prices are taken. TurkStat should consider these. Citizen is very right in doubt. Because he knows by experiencing inflation. Yes, inflation has fallen to single digits due to base effect, but nobody is interested in them. The declared RAP gives priority to growth. Therefore, they cannot keep inflation under control. It is very difficult to be optimistic about inflation. Inflation will not remain in single households. ”

TURKSTAT INFLATION DROPS LIKE CEMRE BUT NOT SEEN

CHP Deputy Chairman Aykut Erdoğdu said that the single-digit inflation figure announcement today does not reflect the realities. Take a scan of the low pay hikes to workers, civil servants and retirees is on the scene. ”

Erdoğdu, in his assessment of the inflation figures announced by TurkStat today, 57 percent of natural gas in a year, 56 percent of electricity, gasoline pointed more to a 32 % percent increase.

"TurkStat inflation, such as cemre, dropped, but not seen," said Erdoğdu, the citizen sees how much increase in prices when shopping, even a slowdown in price increases in a large number of products, he said. Erdoğdu said, “The AKP has brought a whole new economic model. According to this model, which does not comply with any economic theory and logic, inflation decreases when it raises, inflation decreases when interest falls, money gains value when interest decreases. ”

https://www.birgun.net/haber/tuik-in...eri-yok-271244

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Old 4th October 2019, 14:27   #2580 (permalink)
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Re: Watch The Lira Now

Turkish bank a/cs frozen.

Huge numbers of Turkish citizens were surprised today to discover an electronic foreclosure notice on their bank accounts. The aggressive action serves as a reminder of the utility of a permissionless payment system like Bitcoin, particularly in parts of the world suffering economic extremes.

Read more on here.

https://beincrypto.com/turkish-gover...s-why-bitcoin/
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