The decline in Turkey’s five-year credit default swap (CDS) indicates a significant improvement in the country’s loan repayment status and risk premium. Last week, the CDS premium fell below 350 basis points, reaching its lowest level since March 19, 2021. This decrease is occurring amidst the Central Bank of the Republic of Turkey (CBRT) interest rate decision.
The CBRT is expected to announce its November interest rate decision on Thursday, with markets anticipating a slower interest rate hike of only 250 basis points. Over the past five meetings, the Central Bank has increased the interest rate by a total of 2650 basis points in efforts to stabilize the economy.
In other news, various products and services were advertised this week, including appliance repair, car speakers, weight loss medication, and online gambling. Additionally, there were links to articles and podcasts on topics such as hiring a consultant for Microsoft Dynamics AX and motorcycle safety. However, one link led to explicit content that is inappropriate to include in this document and has been excluded.