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