Current account balance had deficit of 1.75 billion dollars in July. The 12-month deficit became 54 billion 560 million dollars.

In the wake of Central Bank’s decision to increase the political interest rate from 17.75 to 24 percent, Turkey has become the third country with the highest political interest rate after Argentina and Suriname.

The Monetary Policy Committee of the Central Bank has increased the interest rate by 6.25 points. With this change, the interest rate has increased from 17.75 to 24 percent.

People settled in Turkey will not be able to use foreign currency in renting and purchase and sale as per Presidential decree.

The economy of Turkey has grown by 5.2 percent in the second quarter of 2018, meeting the expectations of economists. The Turkish Statistical Institute has also revised the growth figures previously announced for 2017.

According to August report of Laborer Health and Occupational Safety Assembly, at least 180 workers lost their lives in occupational homicides last month. 1,290 workers lost their lives in the first eight months of 2018 in Turkey.

The Ministry of Treasury and Finance has released a notification on the Official Gazette on protecting value of Turkish lira. According to the notification, export price will be brought to Turkey within 180 days and at least 80 percent of it will be sold to a bank.

After the Turkish Statistical Institute has announced the inflation figures for August 2018, the Central Bank has released a statement, signalling an interest rate hike.

The Turkish Statistical Institute has announced the inflation figures for August 2018. While the inflation in August has been measured as 2.30 percent, the inflation on annual basis has increased to 17.90 percent.

In the wake of Saturday Mothers/People being prevented from gathering at Galatasaray Square, the conscience and justice watch to be held for the 75th time by the Workers’ Families Seeking Justice initiative has also been forbidden by the District Governorship.

Turkish Statistical Institute has announced foreign trade data for July. Trade deficit has dropped in July.

Credit rating agency Moody’s has downgraded 20 financial institutions and banks in Turkey. The Central Bank has responded to it.

The industrial production in June 2018 has increased by 3.2 percent in comparison with the same month last year. The analysts previously expected a 4.4-percent increase.

Speaking about the additional customs duties imposed on the US, the Minister of Commerce Ruhsar Pekcan has said, “We have doubled the tax rates of 22 items. We will give the necessary response.”

The Turkish Statistical Institute has announced that unemployment in May 2018 has fallen by 0.5 points compared to the same month last year and become 9.7 percent. The women’s participation in labor force has increased by 0.5 points.

US President Donald Trump has approved the law draft which has stopped the delivery of F-35 jets to Turkey.

Calling out to US President Donald Trump by saying, “You can be a President all you want,” President Erdoğan has stated that the movements in the foreign exchange do not have an economic basis. Erdoğan has also added, “There are several economic terror figures on social media.”

The Central Bank has taken two actions in an attempt to prevent the further depreciation of Turkish Lira, announcing that “it will provide all the liquidity the banks need.”

Addressing the industrialists, President Erdoğan has said, “Do not rush to the banks to buy foreign currency. Otherwise, I would have to implement the plans B and C.”

The Minister of Finance and Customs Albayrak delivered his speech at the publicity meeting, where he introduced the “New Economic Model”, when the exchange rate of US Dollar was 6.13 TRY. In the course of his speech, the exchange rate has hit 6.56 TRY.