Month: September 2023

The central bank of Turkey expects inflation to rise to the end of this year. The prediction and expectation of Governor Hafize Gaye Erkan are not good for Turkey economy. Turkey’s central bank with monthly and annual inflation rates announced that inflation has moved up the latter last month and it has gone up to 58.94%. The central bank of Turkey says that it was necessary to increase interest rates because of the surging oil prices. Turkish economy in last few years has weakened because of the accelerating costs and as we know last year in November inflation hit record high of 85.5%. Now it started to climb again and the prediction are not good. Economy and its currency lira is in trouble by looking at how many liras you…

One of world leading bank JP Morgan CHASE analyzing BRICS de-dollarization by the countries of BRICS nation and come to the conclusion that U.S. dollar is at risk. The dollar is at risk of losing its global reserve status because BRICS countries started to trade in their local currency. The institute JP Morgan analyze predicts the risk of de-dollarization is a big knockdown to U.S. economy, as other currency will become the global reserve. “Some signs of de-dollarization are also playing out in oil markets. “The U.S. dollar, one of the key drivers of global oil prices, appears to be losing its once powerful influence,” said Natasha Kaneva, Head of Global Commodities Strategy at J.P. Morgan” Weaponizing the U.S. dollar through history was not a good example that is why…