The Central Bank of the Republic of Turkiye (CBRT) yesterday cut its benchmark, one-week repo rate by 100 basis points to 39.5 per cent, citing a rise in inflation in September and a slowdown in disinflation process.

The bank also lowered the overnight lending rate from 43.5 per cent to 42.5 per cent and the overnight borrowing rate from 39 per cent to 38 per cent.

The Turkish central bank has cut its benchmark, one-week repo rate by 100 bps to 39.5 per cent, citing a rise in inflation and a slowdown in disinflation process.
It also lowered the overnight lending rate from 43.5 per cent to 42.5 per cent and the overnight borrowing rate from 39 per cent to 38 per cent.
The stance will be tightened if the inflation outlook deviates significantly from interim targets.

“The underlying trend of inflation increased in September,” the bank said in its statement after its monetary policy committee (MPC) meeting.

“While recent data suggest that demand conditions are at disinflationary levels, they also point to a slowdown in the disinflation process,” it said.

“The risks posed by recent price developments, particularly in food, to the disinflation process through inflation expectations and pricing behavior have become more pronounced,” it added.

The bank’s policy stance will be tightened in case the inflation outlook deviates significantly from interim targets.

In August this year, the bank switched to a new system by introducing interim targets, separating them from its inflation forecast ranges in a new strategy aimed at boosting transparency and confidence. It set the inflation target for this year at 24 per cent, even though it is forecasting inflation of between 25 per cent and 29 per cent.

At its previous meeting in September, the bank made a 250-point cut in the face of higher-than-expected inflation and heightened political risk. A 300-point cut was made in the meeting before that in July.

Annual inflation rose slightly to 33.29 per cent in September, breaking a long declining trend observed since the middle of 2024 and triggering predictions of a slowdown in the monetary easing cycle.

Fibre2Fashion News Desk (DS)

India’s merchandise exports to the United States contracted by 11.9 per cent year on year (YoY) to $5.5 billion in September this year, after recording a 7-per cent YoY growth in August, while exports to non-US markets expanded by 10.9 per cent YoY in the month, accelerating from a 6.6-per cent YoY growth in August, rating agency Crisil recently said.

The decline followed the Trump administration’s decision to impose a 50-per cent tariff on Indian goods, effective from August 27. Without the frontloading of shipments ahead of the US tariff hike, the fall would have been sharper, it noted.

India’s merchandise exports to the US contracted by 11.9 per cent YoY in September, after recording a 7-per cent YoY growth in August, while exports to non-US markets expanded by 10.9 per cent YoY in the month, accelerating from a 6.6-per cent YoY growth in August, Crisil recently said.
RMG exports contracted—from a YoY drop of 2.6 per cent in August to a decrease of 10.1 per cent YoY in September.

The country’s overall merchandise exports rose by 6.7 per cent YoY to reach $36.4 billion in September, demonstrating resilience despite global economic headwinds and the additional US tariffs. Exports rose for the third straight month, following a similar pace in August.

Exports of organic and inorganic chemicals weakened—from a YoY growth of 3.8 per cent YoY in August to to a YoY growth of 1.8 per cent in September.

Exports of readymade garments contracted—from a YoY drop of 2.6 per cent in August to a decrease of 10.1 per cent YoY in September. Within this category, exports of cotton yarn contracted by 11.7 per cent YoY in the month compared to a contraction of 2.3 per cent in August, and those of man-made yarn contracted by 2.3 per cent YoY compared to a 3.1-per cent drop in August.

The country’s merchandise exports are facing headwinds from US tariff hikes and a broader slowdown in global growth, Crisil cautioned in a note.

Crisil expects India’s current account deficit (CAD) to remain within manageable limits, backed by strong services exports, steady remittance inflows and easing crude oil prices. The CAD will be around 1 per cent of gross domestic product (GDP) in this fiscal, up from 0.6 per cent in the previous, it projected.

Fibre2Fashion News Desk (DS)

Gap is partnering with New York-based designer Sandy Liang on a limited-edition collection of women’s and kids’ apparel launching on Friday, October 10. Rooted in shared nostalgia, the collaboration merges Gap’s timeless heritage with Liang’s signature aesthetic, showcasing how the brand’s iconic essentials can serve as a canvas for creativity.

Since launching her first collection in 2014, Sandy Liang has become one of New York’s defining designers, known for her blend of feminine nostalgia with downtown edge. Her collaboration with Gap channels her cult-favorite designs into a reimagination of the brand’s icons — from bow-adorned denim to instantly iconic outerwear — resulting in a collection that is both playful and wearable, with cross-generational appeal. 

Gap is partnering with New York designer Sandy Liang on a limited-edition women’s and kids’ collection launching on October 10.
Merging Gap’s classic heritage with Liang’s nostalgic yet edgy style, the line reimagines brand icons through a playful, modern lens.
An animated short film, ‘Sandy’s Dream Closet’, celebrates girlhood, creativity, and timeless self-expression.

“Each collaboration has its own handwriting — its own story,” said Mark Breitbard, President and CEO of Gap brand. “Sandy Liang has cultivated both an engaged community and an iconic design perspective, which has allowed her to reimagine our heritage pieces into something entirely new, yet familiar. It’s exactly the kind of creative partnership that keeps Gap at the forefront of culture.”

Inspired by Sandy’s own memories of growing up with Gap, the collaboration is brought to life through an imaginative short film, “Sandy’s Dream Closet,” animated by celebrated visual artist Annie Choi. Centering on a street in New York City’s Lower East Side above her father’s Cantonese restaurant, Congee Village, the film illustrates a dreamscape of a young Sandy Liang as she imagines the fashion possibilities of the future, with the Gap × Sandy Liang collaboration representing her ultimate vision of self-expression.

“Growing up, Gap was the pinnacle of fashion. It’s incredible that I get to co-create with such an iconic brand that I treasured so much as a child, yet is still so relevant today,” said Sandy Liang. “‘Sandy’s Dream Closet’ illustrates how wearing Gap made me feel growing up as I imagined being an adult one day and who I could be. I wanted to take the pieces that meant something to me as a kid and reimagine them through my lens today — celebrating girlhood in all its forms, while honoring the iconic styles that make Gap so timeless.”

The Gap × Sandy Liang collection’s playful motifs and whimsical design details transform everyday staples into modern collectibles:

• Denim anchors the collection with versatile silhouettes that merge Sandy’s aesthetic with Gap classics, including the Pleated Denim Mini Skirt ($88), the Vegan Fur Crop Denim Jacket ($128) and Low Rise ’90s Loose Carpenter Jeans ($108).
• Gap’s iconic fleece is refreshed with Sandy’s reinterpretation of the classic arch logo on the Extra Heavyweight Logo Oversized Hoodie ($118) and the Heavyweight Bow Oversized Hoodie ($108).
• A statement-making outerwear assortment includes the Reversible Vegan Leather Sherpa Jacket ($268), a Vegan Fur Half-Zip Pullover ($198), and Bow-Back Trench Coat ($228) finished with Sandy Liang’s signature bow detailing.
• Online-exclusive items for baby and toddler include mini matchbacks inspired by women’s fleece and outerwear styles, extending the collaboration across generations, with Sandy’s son, Rainer, also appearing in the campaign. 

Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged.

Fibre2Fashion News Desk (RM)