'You are not my king,' Indigenous Australian senator yells at visiting King Charles
An Indigenous senator told King Charles III that Australia is not his land as the royal visited Australia's parliament on Monday.
Turkey's yearly inflation climbed by the fastest pace in 19 years, jumping to 36.08% in December, official data showed on Monday.
The Turkish Statistical Institute said the consumer price index increased by 13.58% in December from the previous month, further eroding peoples' purchasing power. The yearly increase in food prices was 43.8%, the data showed.
The yearly inflation rate was the highest since September 2002. President Recep Tayyip Erdogan's ruling party came to power two months later, in November 2002.
Speaking after a Cabinet meeting, Erdogan promised a return to single-digit inflation.
"Whatever the reason, we regret that our citizens are faced with such a picture," Erdogan said in reference to Monday's inflation rate. "We are determined to break the neck of inflation and bring it back to single digits as soon as possible."
Inflation has been rising in the country while the Turkish lira has been slumping to record lows after the country's central bank -- under pressure from Erdogan -- cut a key interest rate by 5 percentage points in September.
The weakened lira has made imports, fuel and everyday items more expensive and has left many in the country of some 84 million struggling to buy food and other basic goods. Many have been purchasing foreign currencies and gold to protect their savings.
Last month, Erdogan announced measures to safeguard lira deposits against volatility after the Turkish currency hit an all-time low of 18.36 against the dollar. The lira rebounded following the announcement but has since lost some of those gains. The lira depreciated by around 44% against the dollar last year.
Erdogan insists on lowering borrowing costs to boost growth, even though economists argue that higher interest rates is the way to tame soaring prices.
Earlier on Monday, Erdogan announced that Turkey's exports increased by 32.9% in 2021, to reach "a record" $225.4 billion.
Addressing a group of exporters in a televised speech, Erdogan said the figure amounted to a 7.8% narrowing of Turkey's trade deficit. Turkey would revise its export target for 2022 to US$250 billion, he added.
Meanwhile, the independent Inflation Research Group, made up of academics and former government officials, put the yearly inflation rate at a much higher 83%. It said consumer prices rose by 19.35% in December compared with November.
An Indigenous senator told King Charles III that Australia is not his land as the royal visited Australia's parliament on Monday.
In his column for CTVNews.ca, personal finance contributor Christopher Liew shares some of the best ways to save on everyday expenses, to help you keep up with life and get back on top of your financial health.
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The retired elementary teachers, Tony and Francine Smarrelli, originally from Syracuse, New York, resolved to leave the U.S. and move to Italy for good. They say they鈥檝e cut back nearly US$3,000 per month on expenses, which amounts to US$36,000 a year, since moving there permanently.
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Hortense Anglin was the oldest graduate to make her way across the platform at York University's Fall Convocation ceremony this week. At the age of 87, she graduated with an Honours degree in Religious Studies.
Looking for a scare with good intentions this Halloween season? The ghosts and ghouls of Eganville, Ont. invite families to tour the Haunted Walk at Lekbor Manor.
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A Manitoba professor is warning the public after a book on regional mushrooms that he suspects is AI-generated was delisted from Amazon.
A B.C. judge has issued a decision in a years-long dispute between neighbours that began with a noise complaint over barking dogs, crowing roosters and quacking ducks 鈥 awarding $15,000 in damages to the plaintiffs in the case.