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Turkish lira plunges after Erdogan sacks hawkish cenbank chief

ISTANBUL (Reuters) - Turkey's lira plunged 16% to near its all-time low as markets opened after President Tayyip Erdogan made the shock weekend decision to oust a hawkish central bank governor and install a like-minded critic of high interest rates.

Emerging Markets Caught in Flux as Central Banks Walk Tightrope

Though the Federal Reserve last week indicated it's in no hurry to raise interest rates -- triggering further gains in the dollar and U.S. Treasury yields at the expense of risk assets -- hikes in borrowing costs in Russia, Turkey and Brazil underscored the dilemma.

Saudi Aramco to cut capex after 2020 profit drops 44.4%

DUBAI (Reuters) - Saudi Arabian state oil giant Aramco said on Sunday it expects to cut capital expenditure after it reported a 44.4% slump in 2020 net profit, hit by lower crude oil prices and sales as the coronavirus pandemic depressed demand.

Fed Ignoring Market Rate Spikes; Basing Policy On "Actual" Data

Forbes

Forbes

The median of the Fed dot-plot (a summary of the individual member views on where Fed Funds will be over the next three years) indicated no changes in the Federal Funds Rate until 2024. But, because the Fed upgraded its economic (GDP) forecast to 6.5% ...

Turkish lira teeters as new central bank chief flags no quick move

ISTANBUL (Reuters) - Turkey's new central bank governor told bankers on a 90-minute call on Sunday he planned no immediate policy change, seeking to reassure those predicting quick interest-rate cuts and a sharp lira selloff when markets open, a source ...

Turkish lira plunges after Erdogan sacks hawkish central bank chief

ISTANBUL (Reuters) - Turkey's lira plunged 15% to near its all-time low after markets opened following President Tayyip Erdogan's shock weekend decision to oust a hawkish central bank governor and install a like-minded critic of high interest rates. Turkey's ...

Stocks Mixed; Dollar, Treasuries Rise Amid Caution: Markets Wrap

Asian stocks fluctuated to start the week, with investors fretting over bond yields and inflation as economic activity picks up. Turkey's lira tumbled after the central-bank head was replaced. U.S. equity futures swung between red and green. MSCI Inc.'s Asia ...

Turkey's Lira Is Facing Turmoil After Central Bank Upheaval

Investors are expecting losses in the lira when markets open after President Recep Tayyip Erdogan's shock decision to replace the country's central-bank chief. Erdogan's decision to fire Governor Naci Agbal, who had sought to restore the central bank's ...

Aramco's $75 Billion Dividend Survives Oil Rout, Earnings Slump

Saudi Aramco's $75 billion dividend survived one of the biggest disruptions in oil markets in decades as the coronavirus pandemic and a price war sent crude prices tumbling. Aramco's payouts almost all go to the Saudi Arabian government, whose budget ...

China Picks New Central Bank Policy Makers as It Focuses on Risk

China appointed two new members to the central bank's monetary policy committee, just as authorities begin shifting their focus away from stimulus and toward curbing financial risks in the economy. Cai Fang, a well-known economist at the ...