The article highlights essential news affecting Turkish financial markets on March 14, including fluctuations in the lira, government meetings, military actions against Kurdish militants, and concerns about independent media outlets. It also addresses the central bank’s commitment to inflation control and Turkey’s emerging role in European security.
This article outlines pertinent news and events that may influence the Turkish financial markets on March 14. As of 0512 GMT, the Turkish lira (USDTRY) was valued at 36.6845 against the U.S. dollar, an increase from the previous close of 36.61. Meanwhile, the BIST 100 index (XU100) experienced a rise of 1.39%, finishing at 10,727.58 points on Thursday.
Global markets displayed signs of recovery following a significant selloff, with Asian shares rising and gold prices hitting record highs amidst growing trade tensions that prompted a shift towards safe-haven assets. Investors remain cautious in light of these developments.
On the diplomatic front, President Tayyip Erdogan is scheduled to meet with Denis Becirovic, a member of the Bosnian tripartite Presidency Council, in Istanbul. Following this meeting, he plans to attend a Ramadan fast-breaking dinner with healthcare professionals.
In Gaziantep, Transport and Infrastructure Minister Abdulkadir Uraloglu is set to participate in various events, including a visit to the local governor’s office and a fast-breaking dinner with residents.
Culture and Tourism Minister Mehmet Nuri Ersoy will inaugurate a ceremony in Antalya, celebrating the return of artefacts from Denmark to the Antalya Archaeology Museum.
Additionally, Turkey’s foreign minister, defence minister, and the head of the MIT intelligence agency have embarked on a working visit to Damascus, with further details yet to be disclosed.
Concerns have been raised over independent media outlets in Turkey, which face potential closures due to changes in Google’s algorithms that have substantially decreased reader traffic.
The Turkish government anticipates spending an extra 50.4 billion lira ($1.38 billion) this year to meet the demands of increased retirees’ allowances and maternity benefits, as indicated in a recent analysis report.
In terms of military operations, Turkish forces reported the elimination of 24 Kurdish militants in northern Iraq and Syria over the past week, in response to a disarmament appeal from the PKK leader.
Central Bank Governor Fatih Karahan assured that the institution will undertake necessary measures to achieve its inflation target of 24% by year-end, maintaining a stringent monetary policy.
Lastly, Turkey is becoming recognized as a pivotal partner in the restructuring of European security, with diplomats and analysts noting its importance in enhancing defense strategies amidst the ongoing geopolitical crisis regarding Ukraine.
The key developments presented signal a variety of factors that could impact the Turkish financial landscape on March 14. These include changes in the lira’s valuation, significant government meetings, military operations, and the potential effects on independent media. With a focus on inflation targets and European security, stakeholders should remain vigilant of how these events unfold.
Original Source: www.tradingview.com
