Erdogan’s moves offer little reward | Opinion

Turkey has resisted the temptation to cut borrowing costs, for now. The new head of the central bank, Sahap Kavcioglu, on Thursday kept the main rate at 19%, while hinting at a possible relaxation.

Tayyip Erdogan’s apparent goal of easing monetary policy falters. In March, he abruptly replaced the governor, Naci Agbal, who had raised rates that month by 200 basis points, the third dismissal from the post in two years. Kavcioglu seemed more inclined to please him, having argued that high rates can cause, rather than slow down, inflation.

So far, you have avoided any rough action. But you are setting the stage for relaxation. He spoke of keeping rates above inflation. Since the annual exceeded 16% in March, you can raise them up to 300 points. Meanwhile, the promise of March to maintain a tight monetary policy “for an extended period” disappeared.

But Turkey is worse than before. The lira has lost more than a tenth of its value against the dollar since the appointment. And, having spent more than $ 100 billion in 2020 to shore it up, the bank only has $ 10 billion in net foreign exchange reserves, the lowest level since 2003, giving it little ability to fight a sell-off. Also, the Turks are avoiding it in warehouses.

That means inflation can continue to rise. The growing current account deficit, of 2.6 billion dollars in February, is another cause for concern, especially since the restrictions mean that tourism will suffer again this year, which will hurt exports. Kavcioglu is unlikely to be able to slash rates without risking rising inflation, or even a currency crisis.

Your biggest problem is a lack of credibility. Société Générale estimates that another $ 5.9 billion of capital will leave Turkish assets in the short term. The central bank’s twists and turns make a rate cut even more risky.

The authors are columnists for Reuters Breakingviews. Opinions are yours. The translation, of Carlos Gomez Down, it is the responsibility of Five days


Britain detects the movement of Iskander to the border of Russia with Ukraine, sounding the alarm

The redeployment of Iskander missile systems and other weapons of the Russian army to the border with Ukraine forced the British media to write reports.

British journalist Thomas Bullock is confident that on April 9 the Russian Armed Forces began redeploying several Iskander missile systems of the 119th missile brigade from Sverdlovsk.

The author reported in the material available to Janes RBKthat military equipment is allegedly moving in the Voronezh region to the border with Ukraine, Russian Dialogue reports.

Bullock claims that not only Iskanders are in motion, but also the Uragan SZO, infantry fighting vehicles and tanks of the Central Military District. At the same time, according to the British, the forces of the Southern Military District were also in motion, military equipment, in particular, self-propelled mortars “Tulip” were seen in the Crimea and Krasnodar Territory.

At the same time, the publication does not believe that the movement of military equipment can be considered the deployment of troops.

Earlier, Dmitry Kozak warned that the beginning of a full-scale war in Donbass would be the end for Ukraine.

According to the deputy head of the Russian presidential administration, Vladimir Zelensky does not really intend to launch an offensive in the region, but is organizing a PR campaign to raise the fallen ratings.


Lewis announces that he is running for the president of the International Ski Federation and hopes to become the first female head.

Original title: Lewis announced that he was running for the president of the International Ski Federation and hopes to become the first female head

Xinhua News Agency, Tokyo, April 6 (Reporter Wang Zijiang) Sarah Lewis, who has served as the Secretary-General of the International Ski Federation for 20 years, announced in Switzerland on the 6th that she will run for the president of the International Snow Federation and hopes to become the International Ski Federation 97 The first female head in the history of 1 year.

The 56-year-old Lewis is from the United Kingdom. He has served as a member of the Beijing Winter Olympics Coordination Committee of the International Olympic Committee and has visited China many times. Her nomination was formally submitted to the International Snow Federation by the Belgian Ski Association on the day.

There are three opponents of Lewis’s campaign so far. Two of them are Swedes, one is the chairman of the Swedish Olympic Committee and vice chairman of the International Ski Federation Algers, and the other is the billionaire and president of the well-known sporting goods company Hyde. And CEO Elias, he is nominated by the British Ski Association. Another candidate is Lechmann, chairman of the Swiss Ski Association.

Born in London, Lewis learned skiing at the age of 5 and was selected for the British youth team at the age of 15. After representing the British team in two world championships, she participated in the 1988 Winter Olympics in Calgary, Canada. After retiring, she successively served as the director of the Alpine Skiing Department of the British Snow Association, and was the leader of the British delegation at the 1992 Albertville and 1994 Lillehammer Winter Olympics. She joined the International Snow Federation in 1994 and was appointed Secretary-General in 2000. In this post, she worked for 20 years until she was accidentally fired in October last year.

Lewis, who has lived in Switzerland for more than 20 years, believes that the International Snow Federation, founded in 1924, has entered a new era, and skiing has become a global sport. Therefore, this time it is necessary to choose a leader who can lead the International Snow Federation. The new chairman who has completed the strategic transformation is that the International Snow Federation needs to transform from a stable organization to a trend-setting skier.

“I have devoted my whole life to this sport, first as an Olympian and then as the manager of the International Snow Federation.” She said. “With my efforts, the membership of the International Snow Federation has increased to 135. Of all the 109 events set up by the Beijing Winter Olympics, 55 are managed by the International Snow Federation. We have now become a beacon of winter sports. .”

The International Snow Federation will hold an online voting on June 4 to formally elect the successor to the chairman Casper. The Swiss Casper has served as chairman for more than 20 years. His term originally expired in 2022, but he announced his resignation early at the end of 2019. FIS originally planned to elect a new chairman at last year’s plenary meeting, but due to the new crown epidemic, the plenary meeting was postponed to June this year.

The voters participating in this election will be representatives from the 135 member associations of the International Snow Federation. According to the regulations, the International Snow Federation is divided into three levels of members: A, B, and C. Each member of the 19 A-level members counts as 3 votes. Votes, B-level members vote 2 votes, C-level members each vote 1 vote. Changing this inequality between members is also an area that Lewis hopes to reform first after being elected. (Finish)Return to Sohu to see more


Disclaimer: The opinions of this article only represent the author himself. Sohu is an information publishing platform. Sohu only provides information storage space services.


Noah x New Order, Logo & Album Graphic Hoodies and T-shirts-Fashion Press

From NOAH, a collaboration item with the British rock band “New Order” has appeared. It will be on sale at Noah Clubhouse etc. from Saturday, March 27, 2021.

Hoody sweatshirt 20,900 yen (tax included)

“New Order” was formed mainly by the remaining members after the death of leader Ian Curtis of the British rock band “Joy Division”. It is a legendary band with many fans all over the world with musicality that covers all genres. In addition, the record design by designer Peter Saville, which is as original as music, also caught the hearts of fans.

LS print T 7,700 yen (tax included)
LS print T 7,700 yen (tax included)

In this collaboration, we have a wide range of items from clothing to accessories. Zip-up jackets with the “New Order” name logo, bucket hats, tote bags, etc. will be available.

SS cut and sew 10,780 yen (tax included)
SS cut and sew 10,780 yen (tax included)

Also, pay attention to the clothing with artwork and song titles. Fan-coveted items such as hoodies with jacket graphics from the album “Technique” and T-shirts with songs and credits from the album “Movement” will also be available.

Noah x New Order
Release date: Saturday, March 27, 2021
Stores: Noah Clubhouse, Noah Noodle Shop, Dover Street Market Ginza, Online Store
Price example:
・ Blouson 34,980 yen (tax included)
・ Hoody sweatshirt 20,900 yen (tax included)
・ LS print T 7,700 yen (tax included)
・ SS print T 6,600 yen (tax included)
・ Tote bag 4,950 yen (tax included)
・ Crusher hat 8,250 yen (tax included)
・ Maglite 9,680 yen (tax included)

Noah Clubhouse
Noah Noodle Shop

SS cut and sew 10,780 yen (tax included)


Sevilla FC Monchi comments on market movements

The sporting general director of Sevilla, Monchi, has commented the latest movements in the transfer market, That was closed with the transfer without purchase option of Oussama Idrissi to Ajax and the arrival of Papu Gómez in the transfer chapter as the only addition in a month of January in which Carlos Fernández transferred to Real Sociedad.

The one in San Fernando addressed other issues that did not occur, such as the departure of Franco Vázquez or the offer of West Ham for En-Nesyri.

“The Idridssi thing has been done in the last three days. There were conversations between the player, the coaching staff and the sports management and we all believed that the investment was important and we are convinced that he will be an important player. The best thing was that he had the minutes that he did not have due to the pandemic, the injury and that he has not had here. I think it is the most correct decision. Oussama recognized him. He comes from being from March to June without playing, in June he was injured and now to get into that team dynamic … He needs minutes but to have minutes he has to be well, and we don’t wait for anyone. The reflection has been three-way and we thought that the best thing was that it had minutes “, commented the sports director in Canal Sur Radio.

Monchi also valued the possibility that Franco Vázquez, who had offers in Italy, mainly from Parma, had left. “Franco counts for the coach. There has been noise and his possibility of leaving. There have been many teams from Italy, England and Spain who have asked about him. It is different from what we have and he has not seen anything that interested him. I am in love with Franco’s game and with a magnificent professional “.

Finally, he has also referred to the offer for En-Nesyri and the interest that arose in England, mainly from West Ham. “What they offered us, I’m not saying it was ridiculous because it wasn’t, but it did not fill our satisfaction sportingly, the negotiation lasted one day. We were blunt and there was no second offer. I like the En-Nesyri on the day of Eibar more than the day of the Real. I see the evolution in how he presses, how he supports the team defensively. Borja Iglesias, for example, has scored a magnificent goal and scored three goals in two games. Those are streaks. In two games he has three goals. With Youssef I’ll take that. He has always scored a goal, always. From a youth Cup, until now “.