The Highlighted 7 Financial Developments of the Past Week

Financial Developments of the Past Week

Last week, notable developments occurred in the fields of finance and foreign policy. The Central Bank of the Republic of Turkey (TCMB) lowered the policy interest rate to 39.50, while new restrictions on goods from China were brought to the agenda. In the USA, inflation rates fell below expectations, causing a sharp drop in gold prices in global markets. Additionally, US President Donald Trump's planned meetings with Putin and Xi Jinping were among the significant diplomatic headlines of the week.

Here are the 7 key points from last week:

1- TCMB Interest Rate Cut by 100 Basis Points

Due to the rising inflation, TCMB reduced the policy interest rate by 100 basis points, bringing it down to 39.50. This decision resonated widely in the markets.

2- New Restrictions on Chinese Goods from Turkey

Turkey introduced restrictions on the cargo of Chinese goods falling under three categories. This move has the potential to affect trade balances.

3- US Inflation Exceeded Expectations in September

In the US, the inflation rate for September came in at 0.3%, below the 0.4% expectation, leading to varied reactions in the markets.

4- The Largest Drop in Gold Prices in 12 Years

Due to widespread selling in precious metals, gold experienced its largest drop since 2013, while silver recorded its sharpest decline since 2021.

5- Trump: I Canceled the Meeting with Putin

US President Trump commented on the canceled meeting with Putin planned in Budapest, saying, "It didn't feel right to me."

6- Trump - Xi Meeting on October 30

The White House spokesperson announced that Trump will meet with Xi Jinping in South Korea on October 30.

7- 4 Agreements Signed Between Turkey and Kuwait

In the presence of President Recep Tayyip Erdoğan and the Emir of Kuwait, Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah, 4 separate agreements were signed to strengthen cooperation between Turkey and Kuwait.