is increasing mutual trade and working on the development of industrial cooperation in the central bank of turkey has sharply raised the key rate, with which this is connected we will tell you in the next few minutes in belarus 1 and belarus 24 economic news in the studio alina lapo hello, the implementation of allied programs is proceeding at a good pace, the interaction between minsk and moscow has intensified in many areas, the ministry of economy reports, 10 programs of 9 high degree of readiness have been completed, implemented in 80% of activities joint work on an import-substituting investment project. in the field of microelectronics, from tank building. there are 16 projects on the list. half of them are already being traded between belarus and kyrgyzstan is growing in the parties plan to develop and industrial co-operation cooperation between the countries has noticeably intensified last year. finished with a 65% increase in turnover. with the current dina saved for the first half added $ 19 million in joint efforts managed to bring to life a number. idea, for example. a joint productio

this trip, he met and discussed with the deputy ministers of foreign affairs, energy, trade, central bank of turkey the turkish president of the cooperation commission between the two countries . being a strategic partner, they gave the necessary instructions . now our commercial relations reached 12 billion, our commercial terms had reached 24 billion. reach 30 billion also, during the trip of the high-ranking economic delegation of our country to turkey, solutions to remove trade obstacles and leapfrog in economic relations were discussed in the consensus meeting to expand commercial and economic cooperation between iran and turkey. iran and turkey have set a target of 30 billion dollars a year in bilateral economic relations. hamid kameli of ankara sada and sima news agency , iran's security agreements with the countries participating in the moscow security summit, deputy chief of staff of the armed forces at the end of his trip to moscow, he announced new customers for iran's defense. two events related to the field of defense and security in moscow were a good opportunity to meet and negotiate

trip , he met and discussed with the deputy ministers of foreign affairs, energy, trade, central bank of turkey and the turkish president of the cooperation commission between the two countries. kurd is the main goal the development of the business process based on the agreements of the high commission of joint cooperation between iran and turkey, the order of mr. raisi, finally , they gave the necessary orders to turkey as a strategic partner, now our trade relations are at the level of 12 billion, of course, at the time our trade relations had reached 24 billion, imam's goal on the 30 billion that mr. president dr. erdoğan discussed in today's meeting, the agreement reached 30 billion . also, during the trip of our country's high-ranking economic delegation to turkey, solutions for removing trade barriers and leapfrogging economic relations were developed in the meeting. the commercial and economic cooperation between iran and turkey was examined. the solutions that can be used to target the two neighbors to the economic goals set in the agreements of the high commission for close joint coope

affairs of our country , met and discussed with the deputy foreign ministers of energy, trade, central bank of turkey and the turkish president of the cooperation commission between the two countries . the aim is to accelerate the development of the business process based the agreements of the high commission of joint cooperation between iran and turkey, the order of mr. raisi finally gave the necessary orders to turkey as a strategic partner, now our trade relations are 12 billion , our trade relations have reached 24 billion, and the goal of imam roy is 30 billion, which mr. president in the meeting and meeting with mr. erdoğan, dr. raisi agreed to reach 30 billion. also, during the visit of the high-ranking economic delegation of our country, the solutions to remove trade barriers and jump in economic relations were discussed in the joint think-tank meeting to expand commercial and economic cooperation between iran and turkey. the solutions that brought the two neighbors to the economic goals set in the agreements of the high commission for close joint cooperation between iran and turkey, a trade

trade of the central bank of turkey and the turkish president of the cooperation commission of the two countries met and discussed the main goal of developing the business process based on the agreements of the high commission of joint cooperation between iran and turkey. now our business relations are in the limit of 12 billion at the time of our commercial regulations had reached 24 billion, imam roy's goal of 30 billion, which mr. president, dr. , agreed to reach 30 billion in today's meeting with mr. erdoğan. also, during the visit of the high-level economic delegation of our country to turkey, solutions to remove obstacles trade and leap in economic relations in the meeting of mutual understanding to expand trade and economic cooperation between iran and turkey, the solutions that can bring the two neighbors to the economic goals set in the agreements of the high commission for joint close cooperation between iran and turkey, trade volume of 30 billion dollars per year were set as a target in bilateral economic relations. hamid kameli, ankara radio and television news agency, acco

our country in this trip with the deputy foreign ministers of energy, trade, central bank of turkey andkish president of the cooperation commission of the two countries met and discussed the purpose of accelerating the development of the business process based on the agreements of the high commission of joint cooperation between iran and turkey. give the necessary orders now, our trade relations reached 12 billion , our trade reached 24 billion, imam roy's goal of 30 billion, which mr. president dr. agreed upon in the meeting and meeting with mr. erdoğan , will reach 30 billion, also during the delegation's trip. economic high-ranking our country, turkey, solutions to remove trade barriers and leapfrog in economic relations , the solutions that will bring the two neighbors to the economic goals set in the agreements of the high commission for close joint cooperation between iran and turkey were discussed in the think-tank meeting to expand trade and economic cooperation between iran and turkey. they set a target of 30 billion dollars a year in bilateral economic relations. hamid kamel o

and the central bank of turkey raised the key rate for the second time this summer.y 750 basis points to 25% per annum a month ago the regulator acted less. decidedly, then the rate rose by 2.5% however, after the july decision, inflation in turkey slowed to a minimum of a year and a half today on the news, sb, the lira exchange rate at the moment added more than 2.5%. this was the news of the economy in short. the united states, following great britain, included the international children's center artek in the sanctions list for russia . it is located on the black sea coast of crimea not far from yalta, according to the statement of the american ministry of finance in the stop list, he also got into the director of artek konstantin fedorenko and in addition to him, 10 more russians, among them children's rights ombudsmen in the rostov kaluga and belgorod regions, as well as chechen ombudsmen and the minister of education and science from the zaporozhye region, earlier the introduction of new sanctions joe biden announced. ukraine today celebrates the 32nd anniversar

the head of turkey's central bank has more than doubled interest rates to 17.5% in herfirst two meetings challenge with guido cozzi — professor of macroeconomics at switzerland's university of st gallen. if you are able to hear our previous conversation, we were talking about interest rates in the uk being at 5%. in turkey, i7.5%. it put things into perspective somewhat? yes. 5%. in turkey, 17.5%. it put things into perspective somewhat? yes, it looks hiuh into perspective somewhat? yes, it looks high but _ into perspective somewhat? yes, it looks high but actually _ into perspective somewhat? yes, it looks high but actually it's - into perspective somewhat? yes, it looks high but actually it's not - looks high but actually it's not because with an inflation rate of 47%, clearly i7.5% means a big negative difference between the interest rate and the current inflation. it's true that what matters for the real interest rate is a difference between interest rates and the expected inflation however, that even worse because the central bank recently predicted and expected 58%. on the other si

of falling inflation. peaking at over 85% last year — it fell to 37%. but it's now up to nearly 48 per cent! turkey's central banktes to 17 and a half percent in herfirst two meetings. a significant number! but as guido cozzi — a professor of macroeconomics — explained it relects those rising prices. it looks high, but actually, it is not. with an inflation rate of a7, 40 not. with an inflation rate of a7, a0 8%, clearly... it means a big negative difference between the interest rate and the inflation. it shows that the real interest rate is the difference between the interest rate and the expected inflation. however, that is worse, because the central bank recently predicted that it expected 58%. so, on the other side, it is a big increase from the previous trend, after winning the election, erdogan replaced the central bank and minister of finance, and a whole team of orthodox economists, and they are now leading turkey. so, we can expect, still, more increases in the interest rate, and more to come, possibly on the fiscal side. turkey ass set possibly on the fiscal side. turkey pass set of _ possibly on the fi

now we are seeing something similar in turkey as far as i understand, is the central bank independent? well, in turkey, elections were held there and the head ofhe central bank was changed, which began to implement a slightly different policy, and we will see how it will actually end. this story is only in development , as for ukraine, then here you can recall not only such things, but also the years 2010-2013, and in general, this kind of print is hidden, money is in money , by the national bank of ukraine, it ended somewhere around the turn of 15-16 years, after that we had a rather balanced policy and there was no need for the second money yet the russians did not invade our country, and nevertheless, even after the twenty-second year, a difficult year due to a friend, about 400 billion hryvnias , now that the situation has stabilized , the national bank of funds , e.e. such a print if the situation will be completely bad, but until such a situation has not developed , i hope it will not happen in the future, i also hope that we only have a few minutes left. i would like to ask about such a futuristic thing as digital currencies of central

central banks. all central banks seem to have challenges at the moment. turkey is emblematic ofging paths to various central banks. what happened to gradual? alix: dollar lire is down by 5%. 750 basis point worker -- worth of hikes. it did surprise the markets. what did happen to gradual? >> we do not know what happened to gradual. last month the central bank governor kept her narrative that rate hikes would be gradual. judging by the rate hike, of this month's increase was probably somewhere around that level, but to see the central bank increased its key rate to 25% from 17.5, the current level it's the highest in two decades. whatever happened between last month and now it has seemed to change and really stunned markets today. guy: do we think this means rates have gotten significantly higher to go from here? talking about a much higher terminal rates. how far will they go in terms of this rate hiking cycle. onur: right before today's rate decision i think the expectation was the turkish central bank would end here with a pause rate below 25%. the pause rate came to 25% and i

turkey. as far as i understand, is the central bank independent there? well, in turkey , elections were held there and the head of bank was changed, who began to implement a slightly different policy, and we will see in reality how will this story end. it is only in development. as for ukraine, here you can not only recall the years 2010-2013, and in general, this kind of hidden printing of money by the national bank of ukraine, it ended somewhere at the turn of 15-16 years after moreover, our policy was quite er balanced and there was no need for a friend's money, and until the russians invaded our country, and nevertheless, even after the twenty-second year , a difficult year after a friend, about 400 billion hryvnias , now that the situation has stabilized, the national bank of funds e-e does not print in this way and, in principle, only e-e has reserved the right to such printing if the situation is completely bad , but so far such a situation has not occurred and i hope it will not occur in the future, i also hope that we have literally a few left minutes. i would like to ask about such a futuristic thing as

a merchant, somewhere an article was published that well, there is an example of turkey well, how is it that the central bank because here is an example. and why turkey and other examples, that they cannot be an example for us, just the use of positions, when the central bank in china is the independence of the central bank, in general, subordinates to the activities of companies, in fact. today we are talking about integrating the central bank simply into the system of economic management in order to improve the standard of living. to our people nothing more, so the next step must be taken. today it is a reduction in the discount rate. and here we must not put task. let's go back, what are we going back to? let's play the opposite. doesn't the financial block really understand this, but if we have an enterprise and we expect that we are reviving our own economy, our own enterprises are at the heart of it, but the profit is profitable here, the activity of these enterprises. well, there is 7-10%, this is at best, but if we are average, if we take this yield, well, let's count backwards. well, in order to get

of goods. the united arab emirates, china, turkey and india are the first five countries that trade with iran in the field of imports . banks become specialized and the general manager the central bank said at the islamic banking conference that currently banks are not specialized and are governed by statutes. one of our serious plans is for banks to use sharia-related contracts in proportion to their expertise and be monitored accordingly. one of the issues and problems and today, in the field of banking, such as monitoring and consumption of contracts, the use of contracts with masoud eslami is a shari'a issue, but because the necessary supervision is not carried out , strict supervision of banks becomes a problem. the most important news of the governor of the central bank in the 33rd islamic banking conference was the 40th anniversary of the approval of the banking law. no usury in the country and a more serious role of loan al-hasna was one of the important emphasis of the minister of economy in this conference, the issue of al-hasna loan is one of the pillars of islamic banking. the main beneficiaries of this mechanism are the social and class groups that need to receive

process of doing this important work, it should have problems with turkey , which will start soon, in the final fields of financial circulation , financial cooperation with banks , they came from our central bank, from the agricultural sector, but the honorable vice president related to the purchase of goods and exchange, for example this is the point that i would like to share with you, in our agriculture people, they said that we have the best relationship with the iranian sector regarding agricultural research in the north of choghandargand, and they gave an example that we were very able to use iranian technology in this production in the field of medical goods , medical equipment, drugs and medicines with this the issues talking to the steel merchants, they have many products, i am the mother steel of the country, it was suggested that we have a synergy in this incompleteness , it was in the direction of increasing production in the agricultural sector , the financial sector, the gas sector, the gas company, friends had come in all this field, when we were talking with your deputy foreign minister about various mutual investments and technologies that they wanted us to jointly produc

that iran's foreign exchange resources have been released in japan and turkey, and these resources are at the disposal of the central bank, and it can be said that the main cause of inflation is the monetary base and liquidity growth. he said that the money and credit council and the central bank tried to reduce the monetary base and i hope that until the end of the year the trend of rate reduction will continue, the economic elites are around a table to solve the economic problems of the country in the field of economy, what measures should we follow in order to improve the situation of the people, the head of the planning and budget organization in this meeting, pointing to the corner one of the latest economic statistics of the country announced the release of iran's foreign exchange resources from the four countries of korea, japan and turkey . now, to some extent, the huge resources that were previously blocked have now been released and become available . he considered inflation to be the main reason and said that the nature of the credit of the central bank is also there to be taken care of they are doing and they

the imf and we will be happy, he always said that , there are a lot of hodops, and in fact, in turkey, they played with the central bank and erdogan for 10 years, and as a result, now they have fallen and ardakan is forced to return to normal economic policy and appoint normal people, but whether or not. we will see it later, so this is silk even for russian propagandists. i have already seen some excerpts where they say what happened . how did it happen? there is also the russian ruble, one of the three weakest in the world, one of the three weakest currencies in the world , as of now, i hope that it will take the number one place in this race, let's talk about ukrainian news in our country, well, actually not very optimistic news, here is ukrainian business , in particular, the owners of the nova poshta outlet announced that the pressure on business is increasing. well, many companies have not only created such a business trade union, where they are going to create a register of corrupt individuals and raiders, in particular businessmen say that well, of course, the pressure is not yet as powerful as under yanukovych

central bank of south korea, indonesia, sri lanka, and turkey all going to announce rate decisions onhursday. bloomberg economists are expecting a hawkish hold by the bank of korea as the region deals with the threat of another inflation flareup. other economic data to know, cpi prints from singapore and tokyo and ppi numbers from south korea and japan. later on this week, investors will be watching for any clues on the fed's policy plans and fed chair powell's speech at jackson hole. other central bank's from around the world will be there, too. markets will be looking for any shifts in their approach to tackling economic challenges including inflation. vonnie. vonnie: joining us now is the chief asia-pacific economist at natixis. asia is obviously front and center along with jackson hole this week after the gathering storm of china clouds. the latest being that there may have been pressure put on banks to loan out more and to do things with mortgage rates in order to incentivize -- you can incentivize people but will they borrow and will it be enough to gin up gdp? alicia: indeed. o

iran's foreign exchange resources in korea, iraq, japan and turkey has been released and these resources are at the disposal of the central bank , and it can be said that the main cause of the problem is the monetary base and the growth of liquidity, and he said that the money and credit council and the central bank tried to reduce the growth of the monetary base , and we hope until the end of the year, the trend of rate reduction will continue. what measures should we follow to solve the economic problems of the country in the field of economy, in order to improve the situation of the people? the country from the release of iran's foreign exchange resources from the four korean countries japan and turkey informed that now you are the sources of foreign currency that were previously blocked, now the major part has been released and is available. mr. manzoor considered the monetary base and liquidity as the main reason for inflation and said that they are also taking care of the nature of the central bank's credit there. and they are controlling so that we can control the growth of liquidity. the president considered the averag

of the powell speech. euro down .30% against the greenback. sterling trading weaker. down to 125.84. we have come down a way against the dollar from where we were. >>> turkey's central bankiked rates by 750 basis points to 25%. the move shocked markets with the lira gaining ground begins the dollar and euro. inflation in turkey peaked last october. the central bank expects the year end inflation to sit between 22 and 58%. >>> research indicates that chinese consumer sentiment improved in august following declines. the bank of america survey shows consumer are spending more in the next six months and trade up to more expensive brands. interesting. chinese customs data shows the semiconductor equipment surged to record highs in june and in july as they prepare for the sanctions from the u.s. and allies. it reported $5 billion of equipment in the period which is a 70% jump from the same period in 2022 and most imports from japan and the netherlands. >>> oil prices were coming under pressure as concerns of the economic outlook in china continue to weigh on the market. investors are also looking to a key speech from fed chairman jay powell in jackson hole. this is a signal wh

exchange demands from turkey and iraq is also on the way to the release of rushd tv news agency liquidity decreased by 15 percentage points, the economic vice president of the central bank said that the growth rate of liquidity from 42.8 percent in mehr 1400 decreased by about 15 percentage points to 27.5 percent at the end of this semester. mr. shirian added that the economic growth of the country, while in the last four years 1,400, six tenths percent, this figure has been four and two tenths percent on average in the last two years . work with it is accompanied by more than 40 thousand pilgrims the journey will close the crossroads of al-hussein's path, more than 40 thousand people under the flag of imam hussein with the name of ahvaz march, their movement will start from malashi area and their destination will be karbala. mu'ala youssef said, "i can't believe that i'm on the shield of the path that he wished for every year, it's free , it's free for pilgrims." moving towards karbala is not only a pilgrimage but also a message for the enemies of our country . the regions of iran are the same as well the cities of sosangard should pass through the chazaba border in th

central bank there forecasts suggest the inflation rate could hit 58% by the end of the year. injune, it almost doubled its main interest rate, from 8.5 to 15%, a major change in policy for turkeyent erdogan, who had previously made his opposition to high interest rates very clear. security has been tightened in washington ahead of former president donald trump's appearance in court later. he'll be formally charged with plotting to overturn the result of the presidential election in 2020. these are live pictures from outside the court building. security barricades have gone up as you can see. reporters have been arriving early — to secure a place to watch the proceedings — several hours ahead of mr trump's expected appearance. straight to the court in washington, jon donnison is there for us now. what are we expecting to happen? donald trump is not due here until four o'clock, several hours away, but the anticipation is building. dozens of chemicals lined up in front of the court and we expect when he appears, —— dozens of camera crews lined up in front of the court, and we expect when he appears, he will turn up in person, flying in from his golf resort in newjersey, and when

central bank should be independent, because here is an example. and why is turkey and other examples that they cannot be an example for us, just the use of positionssubordinate to the company's activities in fact. today we are talking about integrating the central bank simply into the system of economic management in order to improve the standard of living. to our people nothing more, so the next step must be taken. today it is a reduction in the discount rate. and here we should not pose a problem. let's go back, what are we going back to? let's play the opposite. is it really that the financial block does not understand, but if we have enterprise and we expect that we are reviving our own economy, based on our own enterprises, but the profits are profitable here, here these enterprises. well , there is 7-10%, this is at best, but if we average, if we take this yield, well , let's count backwards. well, in order to get such profitability, you need to earn. but if you have a loan, what should it be, well, a maximum of 4-5%. here is a loan, which means that accounting for delivery should be what 2%. well, what are we ashamed of? why are we talking

central bank cannot. when people talks about the declines of the lira they forget about the yields in turkey which are astronomicalest in a place like -- when you invest in a place like turkey, the yields could compensate for that, but it is down this year but not as much as people would say. gina: i think it is an area where investors struggled to put capital because there is stability in the currency and yield are all over the place. capital generally tends to concentrate and areas of certainty and relevant terms of equity market. this region of the world is difficult to invest in even though the economic trend could in -- benefit. you see diverse supply chains play out. they should be beneficiaries but it is tough to attract capital. damian: you're making you good point from foreign investment, but if you're inside of turkey, there is no other place to go if you want to invest. matt: matt: i assume they must be using euros or dollars rather than lira.it is so sad because it is a beautiful country. i was lucky enough to spend a month there with my english professor who took us for a great trip to roberts college