ILEA000954464: Turkey keeps benchmark interest rate unchanged for 4th straight month

Türkiye's annual inflation exceeds 75 pct in May

STORY: Türkiye's annual inflation exceeds 75 pct in May SHOOTING TIME: June 2-3, 2024/Archives DATELINE: June 4, 2024 LENGTH: 00:01:10 LOCATION: Ankara CATEGORY: ECONOMY SHOTLIST: 1. various of people shopping in Istanbul, Türkiye (Shooting date: May 17, 2024) (courtesy of ihlas news agency) 2. various of people at a discount cafe in Samsun, Türkiye (Shooting date: June 2, 2024) (courtesy of ihlas news agency) 3. various of people at a fish bazaar in Düzce, Türkiye (Shooting date: June 3, 2024) (courtesy of ihlas news agency) 4. various of people shopping in Safranbolu, Türkiye (Shooting date: June 2, 2024) (courtesy of ihlas news agency) STORYLINE: Türkiye's annual inflation rate rose to 75.45 percent in May, the highest since November 2022, reaching the peak expected by the government and economists, according to official data released on Monday. Consumer prices rose by 3.37 percent in May, compared to an increase of 3.18 percent in April, as per data from the Turkish Statistical Institute. The highe

Tokyo consumer inflation accelerates in May

STORY: Tokyo consumer inflation accelerates in May SHOOTING TIME: recent footage DATELINE: June 3, 2024 LENGTH: 00:00:39 LOCATION: Tokyo CATEGORY: ECONOMY SHOTLIST: 1. various of street views in Tokyo STORYLINE: Core inflation in Tokyo continued to rise in May as utility costs expanded, government data showed. The Tokyo core consumer price index, which excludes volatile fresh food but includes fuel costs, rose 1.9 percent in May from a year earlier, accelerating from a 1.6 percent rise in April, according to the internal affairs ministry. Seen as a leading indicator of nationwide trends in Japan, the Tokyo data released on Friday stood below the Bank of Japan's 2-percent target. The acceleration was largely pushed up by utility costs related to renewable energy promotion, as electricity bills increased for the first time in 16 months by rising 13.1 percent year on year. Meanwhile, prices of food excluding fresh items rose 3.2 percent, unchanged from the previous month. Xinhua News Agency correspondent

Industrial production costs fall in Italy for 6th consecutive month

STORY: Industrial production costs fall in Italy for 6th consecutive month SHOOTING DATE: May 30, 2024 DATELINE: May 31, 2024 LENGTH: 00:00:49 LOCATION: Rome CATEGORY: ECONOMY SHOTLIST: 1. various of streets in Rome STORYLINE: Industrial producer prices in Italy fell for the sixth consecutive month, the country's statistics entity reported Thursday, due largely to continued decreases in energy costs. The Italian National Institute of Statistics (ISTAT) said that prices for industrial producers fell by 0.9 percent in April compared to the previous month. Costs were 5.9 percent below their levels from a year earlier. The trend represents a marked turn-around from 2022 and early 2023, when the key index rose nearly every month and when year-on-year increases regularly topped 30 percent due to the spike in energy prices. Overall inflation in Italy has fallen dramatically since October 2023. This decline has been broadly in line with the drop in producer prices. Still, the rate of decrease in producer

Turkish trade deficit widens in April as imports climb

STORY: Turkish trade deficit widens in April as imports climb SHOOTING DATE: Earlier footage DATELINE: May 31, 2024 LENGTH: 00:01:37 LOCATION: Ankara CATEGORY: ECONOMY SHOTLIST: 1. various of an iron products factory in Türkiye (00:00-00:28) (date:29.04.2024) (courtesy of ihlas news agency) 2. various of a bag factory in Türkiye (00:28-01:04) (date:12.03.2024) (courtesy of ihlas news agency) 3. various of Türkiye's Treasury and Finance Minister Mehmet Simsek (01:04-01:09) (date:29.05.2024) (courtesy of ihlas news agency) 4. various of a fruit and vegetable packaging company in Türkiye (01:09-01:37) (date:09.05.2024) (courtesy of ihlas news agency) STORYLINE: Türkiye's trade deficit widened by 12.9 percent year-on-year in April to 9.9 billion U.S. dollars, the Turkish Statistical Institute (TUIK) said on Thursday. Exports edged up 0.1 percent to 19.25 billion dollars, while imports climbed 4.0 percent to 29.17 billion dollars, pushing the exports-to-imports ratio down to 66.1 percent, according to TUIK

Turkish central bank keeps policy rate unchanged at 50 pct

STORY: Turkish central bank keeps policy rate unchanged at 50 pct SHOOTING TIME: File DATELINE: May 24, 2024 LENGTH: 00:01:06 LOCATION: Ankara CATEGORY: ECONOMY SHOTLIST: 1. various of Turkish central bank 2. various of Turkish lira 3. various of Turkish central bank 4. various of Turkish lira 5. various of Turkish central bank STORYLINE: Türkiye's central bank announced on Thursday that it would keep its interest rate unchanged at 50 percent, which is in line with market expectations. "Considering the lagged effects of the monetary tightening, the committee decided to keep the policy rate unchanged but reiterated that it remains highly attentive to inflation risks," the bank said in a statement. The bank said that the underlying trend of monthly inflation registered a limited decline in April, while the recent indicators point to a slowdown in domestic demand compared to the first quarter. Meanwhile, consumption goods imports increased in April, limiting the improvement in the current account balance.

Nigerian central bank further raises interest rate to over 26 pct

STORY: Nigerian central bank further raises interest rate to over 26 pct SHOOTING TIME: May 22, 2024 DATELINE: May 23, 2024 LENGTH: 00:01:09 LOCATION: Abuja CATEGORY: ECONOMY SHOTLIST: 1. various of a busy street in Nigeria 2. various of the central bank building 3. various of press briefing by central bank officials 4. SOUNDBITE (English): YEMI CARDOSO, Governor of the Central Bank of Nigeria STORYLINE: Nigeria's central bank on Tuesday further raised the benchmark interest rate, pushing it by 150 basis points to 26.25 percent, in a move to combat the country's persistent inflation. This latest hike marks a continuation of Nigeria's aggressive monetary tightening strategy aimed at stabilizing the economy. It is the third consecutive one this year, since February, to raise the baseline interest rate known as the monetary policy rate. Yemi Cardoso, governor of the Central Bank of Nigeria, who chairs the Monetary Policy Committee, told the media at the end of a meeting in the capital of Abuja that th

Türkiye's solar, wind power generation reaches new high in April: minister

STORY: Türkiye's solar, wind power generation reaches new high in April: minister SHOOTING TIME: Recent footage DATELINE: May 18, 2024 LENGTH: 0:01:21 LOCATION: Ankara CATEGORY: ECONOMY SHOTLIST: 1. various of solar power generation in Türkiye (courtesy of ihlas news agency) 2. various of a wind farm in Türkiye STORYLINE: Türkiye shattered records for solar and wind power generation in April, a sign of the country's growing focus on renewable energy, Minister of Energy and Natural Resources Alparslan Bayraktar said on Friday. Solar energy output surged to 2.4 billion kilowatt-hours in April, pushing its share of total electricity generation to a record 10 percent, Bayraktar stated. April has also been a record-breaking month of wind power, according to the minister. "Wind energy generation reached an all-time high of 3.2 billion kilowatt-hours in April," Bayraktar said. He pointed out that the total electricity generation based on renewable energy sources reached an all-time high of 15.5 billi

India's wholesale inflation rises to 1.26 pct in April

STORY: India's wholesale inflation rises to 1.26 pct in April SHOOTING TIME: Recent footage DATELINE: May 16, 2024 LENGTH: 0:01:11 LOCATION: New Delhi CATEGORY: ECONOMY SHOTLIST: 1. various of India gate 2. various of the wholesale market 3. various of fuel station STORYLINE: India's wholesale price index (WPI) rose 1.26 percent in April, according to data released Tuesday by the Federal Ministry of Commerce and Industry. "The annual rate of inflation based on all India WPI number is 1.26 percent (provisional) for the month of April 2024 (over April 2023)," read a statement issued by the ministry. "Positive rate of inflation in April 2024 is primarily due to increase in prices of food articles, electricity, crude petroleum and natural gas, manufacture of food products, other manufacturing etc." WPI for the month of March was recorded as 0.53 percent. WPI inflation, an indicator of prices in the wholesale market, rises or falls mainly due to steep increase or decrease in commodity prices globall

Türkiye's Erdogan, Greek PM stress maintaining positive momentum in ties

STORY: Türkiye's Erdogan, Greek PM stress maintaining positive momentum in ties SHOOTING TIME: May 13, 2024 DATELINE: May 14, 2024 LENGTH: 00:01:34 LOCATION: Ankara CATEGORY: POLITICS SHOTLIST: 1. various of the bilateral meeting (courtesy of ihlas news agency) 2. various of the press conference (courtesy of ihlas news agency) 3. SOUNDBITE 1 (Turkish): RECEP TAYYIP ERDOGAN, Turkish President (courtesy of ihlas news agency) 4. SOUNDBITE 2 (Turkish): RECEP TAYYIP ERDOGAN, Turkish President (courtesy of ihlas news agency) STORYLINE: Turkish President Recep Tayyip Erdogan and visiting Greek Prime Minister Kyriakos Mitsotakis on Monday underscored the significance of maintaining the recent positive trajectory in bilateral relations, despite longstanding disputes. In a joint press conference in Ankara, Erdogan emphasized the importance of dialogue. SOUNDBITE 1 (Turkish): RECEP TAYYIP ERDOGAN, Turkish President "Despite the differences of opinion, we focus on the positive agenda by keeping our dialogue chan

Türkiye raises year-end inflation forecast amid soaring prices

STORY: Türkiye raises year-end inflation forecast amid soaring prices SHOOTING TIME: May 9, 2024 & Earlier footage DATELINE: May 10, 2024 LENGTH: 00:01:19 LOCATION: Ankara CATEGORY: ECONOMY SHOTLIST: 1. various of Turkish Central Bank (earlier footage) 2. SOUNDBITE 1 (Turkish): FATIH KARAHAN, Turkish Central Bank Governor (courtesy of ihlas news agency) 3. various of Turkish lira (earlier footage) 4. SOUNDBITE 2 (Turkish): FATIH KARAHAN, Turkish Central Bank Governor (courtesy of ihlas news agency) 5. various of Turkish lira (earlier footage) 6. various of Turkish Central Bank (earlier footage) STORYLINE: Türkiye's Central Bank has raised its end-of-year inflation forecast for 2024 to 38 percent, a two-percentage-point increase from previous estimates, as revealed in its latest quarterly report. The bank's outlook for the subsequent years remains unchanged, with inflation expected to decrease to 14 percent in 2025 and 9 percent in 2026, aiming for a medium-term stabilization target of 5 percent. Centr

Turkey keeps benchmark interest rate unchanged for 4th straight month

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