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Hazelnuts: with pomp and circumstance

July 19, 2021 1:18 PM, Der AUDITOR
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ORDU. President Recep Tayyip Erdoğan is expected to announce the TMO bid for hazelnuts with pomp and circumstance in Giresun next week. Although Turkey is mainly closed for Eid this week, the central bank has caused some commotion in the market by keeping the key interest rate unchanged at 19% - quite against Erdogan’s wishes. This move has certainly taken analysts by surprise. Suppliers are wondering in how far the central bank chief will be able to maintain his independence.

Exchange rate boosts export prices

Although the international market very much welcomed the fact that the central bank bowed to common sense in operating against Erdogan’s will and the lira gained by more than 2% last week, Turkey’s runaway inflation coupled with high producer prices may spell an end to its tough monetary policy. In addition, it should be noted that the country’s economy is recovering faster than expected. That is if government statements and reports issued by Moody’s and Fitch prove true. The domestic market certainly is rel

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