Turkish Central Bank may raise interest rate this Thursday
The Turkish Central Bank may continue to raise the discount rate. It could reach 20% this Thursday.
Turkish central bank
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Turkish lira keeps falling for second day in a row
The collapse of the Turkish lira continues for the second day in a row. This happened right after the Central Bank of Türkiye raised the key rate from 8.5 to 15%.
Turkey's central bank rises interest rate to 15%
Turkey’s central bank delivered a large interest rate hike Thursday, raising its key rate by 6.5% points to 15%. The increase, which is a significant jump from the current 8.5%, is the first since March 2021. The central bank …
Hafize Gaye Erkan named Türkiye's central bank governor
Turkey’s President Recep Tayyip Erdogan has appointed Hafize Gaye Erkan as the country’s new central bank governor, the Official Gazette said. Erkan was a former managing director at Goldman Sachs and co-CEO at …
Türkiye allows cash withdrawals
Türkiye has allowed cash withdrawals from cards and deposits
Türkiye's central bank sees substantial increase in reserves
The reserves of the Central Bank of Republic of Türkiye (CBRT) have reached $125 billion, CBRT governor Shahap Kavcioglu said on the air of the TRT TV channel. "The only central bank in the world, the reserves of which have …
Turkey's Central Bank reduces key rate to 9%
Turkey’s Central Bank reduced the policy rate (one-week repo auction rate) from 10.5% to 9% on Thursday. In October the rate was cut from 12% to 10.5%. The regulator’s decision coincided with projections by the …
Central bank of Türkiye lowers interest rates again
The Central Bank of Türkiye has decided to cut the discount rate from 13% to 12%, the regulator's press service reports. "The Monetary Policy Committee has decided to lower the rate at weekly repo auctions (a short-term …
Türkiye working on new stimulus for businesses to sustain activity
The Turkish government is working on a new financial package to support small- and medium-sized enterprises (SMEs) in need of collateral, the country’s Treasury and Finance Ministry said. According to …
Turkey's Central bank cuts key rate
Turkey's central bank said on Thursday it slashed its key rate to 13% from 14% to drive economic growth and sustain employment amid growing geopolitical risk, adding rising loan rates have diminished effectiveness of monetary policy. …
Central bank survey sees Turkey's year-end inflation at nearly 58%
Expectations for Turkish inflation through the end of this year have ticked higher, a closely watched survey showed Monday, as Turkey’s central bank is seen holding its benchmark policy rate unchanged this week. Propelled by …
Turkish central bank ups end-2022 inflation forecast to 42.8%
Turkey’s central bank on Thursday hiked its year-end annual inflation forecast to 42.8%, from 23.2% three months ago, according to a presentation by its governor. The Central Bank of the Republic of Turkey (CBRT) also sees a …
Turkish Central Bank cuts key rate further despite lira slump
Turkey's central bank slashed its policy rate by 100 basis points to 14% as expected on Thursday, carrying on with Turkish President Recep Tayyip Erdogan's plan even after inflation jumped above 21% and the currency spiraled to all-time …
Turkish Central Bank intervenes to curb 'unhealthy' lira losses
Amid a sharp slide in the nation’s currency, the Turkish Central Bank announced it would intervene in markets and sell foreign exchange reserves Wednesday to stem volatility in the Turkish lira, …
Turkey intervenes in currency markets in attempt to stem lira plunge
The Turkish lira rebounded strongly Wednesday as the central bank said it had intervened due to “unhealthy” market prices. The Central Bank of the Republic of Turkey (CBRT) said in a statement it “directly” …
Erdogan: Turkish Central Bank reserves to surpass $115bln
Turkish Central Bank's reserves will surpass $115 billion when pending transactions are completed, Turkey's president Recep Tayyip Erdogan said on Tuesday. The bank's official reserves so far stand at $109 billion, Erdogan …
Turkey's external assets at $227.1B in October
Turkey's external assets amounted to $227.1 billion as of Oct. 31, down 10.4% from the end of last year, the Turkish Central Bank announced Friday. The country's liabilities against non-residents during the same period also fell …
Fitch cuts Turkey's ratings after sacking of central bank head
Fitch Ratings downgraded Turkey’s credit rating from "BB+" to "BB-" with a negative outlook, after Turkish President Recep Tayyip Erdogan sacked governor of the central bank Murat …
Turkey's Erdogan says dismissed central bank governor did not follow instructions
Turkish President Tayyip Erdogan said on Wednesday he had dismissed the central bank governor because he failed to follow instructions on interest rates and the bank had not properly fulfilled its role, Reuters reports. …
Erdogan explains why he fires Turkey's central bank chief
Turkish President Recep Tayyip Erdogan has confirmed that he fired Turkey's central bank chief over his refusal to cut interest rates. Addressing a trade-union meeting in Ankara, Erdogan again declared interest …
