Turkey’s five-year credit default swap (CDS) has been steadily declining, indicating a positive outlook for the country’s loan repayment status and risk premium. Last week, Turkey’s CDS premium dropped below 350 basis points, reaching its lowest level since March 19, 2021. This improvement coincides with the Central Bank of the Republic of Turkey (CBRT) interest rate decision, which is expected to be announced on Thursday.
The CBRT is projected to slow down its interest rate hike by 250 basis points in November, following a series of five meetings where the Central Bank raised the interest rate by a total of 2650 basis points in an effort to stabilize the economy. Meanwhile, various products and services were advertised online, including appliance repair services, car speakers, weight loss medication, and online gambling platforms.
In addition to these advertisements, links to articles and podcasts on topics such as hiring a consultant for Microsoft Dynamics AX and motorcycle safety were also included. However, one link led to explicit content that was deemed inappropriate for this document and has been excluded.