Turkey’s economy cooled in the first quarter of this year as the central bank moved to tighten monetary policy to deter risks related to the Iran war.

With a packed schedule of meetings and speeches in front of London investors, Turkey’s top economic officials set out on Thursday to ease concerns about the country’s accelerating pace of inflation.

With a packed schedule of meetings and speeches in front of London investors, Turkey’s top economic officials set out on Thursday to ease concerns about the country’s accelerating pace of inflation.

Turkish state lenders sold about $6 billion to defend the lira on Thursday, about half shortly after a court decision that removed the main opposition party’s leadership, according to traders familiar with the transactions.

Turkey offloaded almost all of its US Treasuries in March as it stepped up efforts to defend the lira amid intense economic pressure from soaring energy costs.

Turkey offloaded almost all of its US Treasuries in March as it stepped up efforts to defend the lira amid intense economic pressure from soaring energy costs.

Turkey’s Kontrolmatik Enerji ve Muhendislik defaulted on two separate lira bonds that matured on Friday, according to a statement by Turkey’s Central Securities Depository, marking a rare corporate debt default in the country’s local bond market.

Turkey’s central bank sharply raised its inflation forecast on Thursday due to surging energy costs but didn’t signal a shift in monetary or exchange-rate policy despite mounting pressure on prices.

A global energy price shock sparked by the US-Israeli war on Iran is forcing Turkey’s central bank to raise its inflation forecasts, putting further strain on the country’s efforts to slow price gains.

A global energy price shock sparked by the US-Israeli war on Iran is forcing Turkey’s central bank to raise its inflation forecasts, putting further strain on the country’s efforts to slow price gains.

Turkey’s foreign reserves had their biggest monthly decline on record in March, as the Iran war triggered global selloffs in emerging market assets and strained the lira.

A Turkish court in Ankara on Wednesday adjourned a trial against leading opposition figures, including President Recep Tayyip Erdogan’s main rival in a criminal case seen as a harbinger for the party leadership.

Turkish annual inflation rose more than expected in April as price pressures from the Iran war continued to ripple through the economy.

Cevdet Akcay, who helped overhaul Turkey’s monetary policy to bring down prices and revive investor interest, stepped down as one of the central bank’s deputy governors.

Turkey’s top economic policymakers told investors this week that the fallout from the Iran war is likely to weigh on Turkish growth and raise price pressures in the short term, according to people with knowledge of the conversations.

The International Monetary Fund said Egypt’s economic reforms and stronger buffers are enabling the country to better weather external shocks, as the local pound reverses some losses after the Iran war ceasefire.

The International Monetary Fund cut growth forecasts for countries across the Middle East due to disruptions stemming from the Iran war and warned that a prolonged conflict could put further pressure on the region’s economies.

The International Monetary Fund cut growth forecasts for countries across the Middle East due to disruptions stemming from the Iran war and warned that a prolonged conflict could put further pressure on the region’s economies.

The International Monetary Fund said Egypt’s economic reforms and stronger buffers are enabling the country to better weather external shocks, as the local pound reverses some losses after the Iran war ceasefire.

Qatar’s finance minister warned of a bigger economic fallout from the Iran war over the coming months if the Strait of Hormuz isn’t reopened soon and trade remains restricted to countries reliant on everything from natural gas and fertilizers to helium.