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Hazelnuts: quality and lira shock suppliers

August 25, 2023 at 11:25 AM , Der AUDITOR
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ORDU. Speculations over the new hazelnut crop have been circulating in Turkey for weeks. With a clearer picture emerging now more optimistic voices have to admit that there are issues with quality and kernel sizes. Thursday’s hike in the key interest rate has also taken suppliers by surprise.

Market holds its breath

Economists and analysts are stunned by the Central Bank’s surprise move to hike Turkey’s key interest rate by 750 basis points to 25%. Initial expectations rather ranged at 250 basis points to around 17.5% given that the bank has undershot anticipations in the past two months. The lira witnessed a rare hike on Thursday after declining by 68% in the past two years caused by president Recep Tayyip Erdoğan’s unorthodox policies. Thursday’s decision marks a turnaround signalling that the central bank is willing to get a g

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