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21st March 2017 – Turkish Central Bank Support The Lira

Turkey’s central bank increased its reserves of US dollars.

29th January 2017 – Turkey and UK Agree £100 Million Trade Deal

BAE Systems CEO says the deal is the beginning of bigger trading relationship.   The new partnership will make the UK Turkey’s partner of choice for aerospace technology.   BAE will collaborate with Turkish Aerospace Industries (TAI) to develop TF-X Turkish fighter jet.   The partnership could extend to engines, weapons, radars and sensors.

28th January 2017 – UK Prime Minister Theresa May Meets With President Recep Tayyid Erdogan

Mrs May wants to talk trade and security, whilst Mr Erdogan may want more visa access to UK.   The UK and Turkey will be setting up a working group to build a free trade agreement, but formal negotiations will not start until the UK has left the European Union (EU).   Turkey and UK plan to sign a free trade deal once Britain leaves the European Union (EU).

24th January 2017 – Central Bank Keeps Interest Rates On Hold

Political instability, terrorist attacks, neighbouring war in Syria, lack of domestic democracy and economic poor performance, has caused the lira to fall over recent months.   Many wanted an interest rate rise to try and shore up the value of the lira, but others feared it would restrict business investment, spending and cause the economy to slow further.

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