Articles by: Silvia Hristovamm

Turkish lira appreciated by more than 5% country’s central bank raised interest rates

September 13, 2018 1:35 pmComments Off on Turkish lira appreciated by more than 5% country’s central bank raised interest rates
Turkish lira appreciated by more than 5% country’s central bank raised interest rates

The Turkish lira appreciated by more than 5% after the country’s central bank raised interest rates despite Turkish President Recep Tayyip Erdogan’s call to do the opposite to reduce credit costs. The currency offset an earlier decline after central bankers raised their key seven-day repo rate by 625 basis points to 24%. Earlier in the day, Erdogan criticized bankers for causing a depreciation of the currency. “The central bank is […]

Read more ›

British industrial activity reached a 25-month low

September 4, 2018 5:38 amComments Off on British industrial activity reached a 25-month low
British industrial activity reached a 25-month low

British industrial activity reported its weakest month in more than two years and export orders declined unusually in August. The data give an alarming signal that the slowdown in the world economy, as well as the approaching Brexit, put pressure on British factories. The Purchasing Managers’ Index (PMI) for the industry sector, prepared by IHS Markit and the British Purchasing and Supply Institute (CIPS), dropped to 52.8 points, the lowest […]

Read more ›

Turkey’s annual inflation rate has risen to almost 18%

5:32 amComments Off on Turkey’s annual inflation rate has risen to almost 18%
Turkey’s annual inflation rate has risen to almost 18%

Turkey’s annual inflation rate has risen to almost 18% due to the weak local currency, which has led to a sharp rise in consumer prices. According to the Turkish Statistical Institute, annual inflation in August was 17.9%. The inflation reached a 15-year maximum of 15.39% in June. In July, the central bank refused to raise its interest rate and kept it at 17.75%. In July, annual inflation accelerated additionally to […]

Read more ›

Chinese production activity has grown in August at its slowest pace in 12 months

September 3, 2018 8:45 amComments Off on Chinese production activity has grown in August at its slowest pace in 12 months
Chinese production activity has grown in August at its slowest pace in 12 months

Chinese production activity has grown in August at its slowest pace in an year, as the export orders shrink for the fifth consecutive month and employers cut workers. The grim results strengthened the stance that China’s economy will continue to cool in the coming months, while the US is increasing its tariffs on Chinese goods. This will likely lead to more spending and other measures to support growth from Beijing. […]

Read more ›

Number of unemployed in Germany has increased by 26,000 in August

August 31, 2018 1:51 pmComments Off on Number of unemployed in Germany has increased by 26,000 in August
Number of unemployed in Germany has increased by 26,000 in August

The number of unemployed people in Germany has increased by 26,000 in August, reaching 2.35 million, according to Federal Employment Agency figures. This is an increase of 0.1 percentage points over the previous month and so unemployment in Germany amounted to 5.2%. Compared to the same month last year, the number of Germans without work decreased by about 194,000. “The slightly higher unemployment rate in August can be attributed to […]

Read more ›