Turkey’s Credit Default Swap (CDS) Hits 33-Month Low

Turkey’s Credit Default Swap (CDS) Hits 33-Month Low

Turkey’s five-year credit default swap (CDS) has continued to decline, indicating an improvement in the country’s loan repayment status and risk premium. This is a positive sign for Turkey’s economy as it suggests that investors are becoming more confident in the country’s ability to repay its debt.

Last week, Turkey’s CDS premium fell below 350 basis points, reaching its lowest level since March 19, 2021. This decrease is occurring amid the Central Bank of the Republic of Turkey (CBRT) interest rate decision. The CBRT is expected to announce its November interest rate decision on Thursday, 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 efforts to stabilize the economy.

In other news, various products and services were advertised, including appliance repair, car speakers, weight loss medication, and online gambling. Additionally, there were links to articles and podcasts on topics such as hiring a consultant for Microsoft Dynamics AX and motorcycle safety. However, one link led to explicit content that is inappropriate to include in this document and has been excluded.

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