Turkish central bank

Turkey's Central Bank reduces key rate to 9%

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

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 …

Turkey's Central bank cuts key rate

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. …

Turkish Central Bank cuts key rate further despite lira slump

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 …

Erdogan: Turkish Central Bank reserves to surpass $115bln

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 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 …

Erdogan explains why he fires Turkey's central bank chief

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 …

Turkey finds way to increase its gold fund reserve

Turkey finds way to increase its gold fund reserve

Turkey plans to increase the country's gold reserve through the sale of old cars without owners, and confiscated ones as well. According to Turkish media, local municipalities will sell abandoned or confiscated cars, and the …