Central Bank

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Central Bank governor says it's 'too early' to talk about an interest rate cut

Central Bank governor says it's 'too early' to talk about an interest rate cut

After Ağbal's appointment, the policy rate has been raised from 10 percent to 17.25 percent.

28 January 2021

Turkey’s Central Bank keeps interest rate constant

Turkey’s Central Bank keeps interest rate constant

The Monetary Policy Committee of Turkey’s Central Bank has kept the policy rate (one-week repo auction rate) constant at 17 percent.

21 January 2021

Central Bank survey: Exchange rate of dollar to lira expected to surpass 8 by year-end

Central Bank survey: Exchange rate of dollar to lira expected to surpass 8 by year-end

The Central Bank has released the results of its expectation survey.

15 January 2021

Central Bank hikes interest rates by two points

Central Bank hikes interest rates by two points

"In the forthcoming period, tightness of monetary policy stance will be decisively sustained until strong indicators point to a permanent fall in inflation," the bank has said.

24 December 2020

‘We are determined to reduce inflation,’ says Turkey’s Central Bank Governor

‘We are determined to reduce inflation,’ says Turkey’s Central Bank Governor

Central Bank Governor Ağbal says, “In 2021, all factors affecting inflation will be taken into account, and the tightness of monetary policy will be decisively sustained until there are strong indicators that point to price stability and a permanent fall in inflation.”

16 December 2020

Turkey's current account posts 273 million dollars deficit

Turkey's current account posts 273 million dollars deficit

The figure was a 2.74 billion dollars surplus in the same month last year.

11 December 2020

Turkey’s Central Bank raises swap auction limit

Turkey’s Central Bank raises swap auction limit

Central Bank has increased the Turkish Lira’s swap auction limit from 50 percent to 60 percent. The limit has been gradually increasing since last April.

26 November 2020

Interest rate hike by Turkey’s Central Bank

Interest rate hike by Turkey’s Central Bank

Central Bank has increased the policy rate from 10.25 to 15 percent: “The lagged effects of depreciation in Turkish lira, increasing international food prices and deterioration in inflation expectations affect the inflation outlook adversely.”

19 November 2020

Turkey to use all policy tools to ensure stability, says new Central Bank Governor

Turkey to use all policy tools to ensure stability, says new Central Bank Governor

The monetary policy communication will be strengthened in the framework of transparency, accountability and predictability principles, Ağbal has said.

9 November 2020

‘The real cause of economic crisis in Turkey is the Presidential System’

DEVA PARTY CHAIR BABACAN

‘The real cause of economic crisis in Turkey is the Presidential System’

DEVA Party Chair Babacan, also a former deputy PM from the ruling AKP, has said, “If a Central Bank Governor is removed from office in a sudden operation one night, it shows nothing other than the poor management of the economy.”

9 November 2020

Central Bank Governor says Turkey doesn't have a target for exchange rates as US dollar's rise continues

Central Bank Governor says Turkey doesn't have a target for exchange rates as US dollar's rise continues

The Central Bank has announced that it raised the year-end inflation forecast for both this year and next.

28 October 2020

Turkey’s Central Bank keeps interest rate constant, US dollar skyrockets

Turkey’s Central Bank keeps interest rate constant, US dollar skyrockets

The Central Bank has kept the policy rate (one-week repo auction rate) constant at 10.25 percent. Following this decision, the exchange rate of the US dollar has hit 7.95 Turkish Lira and that of Euro 9.40 Turkish Lira.

22 October 2020

Interest rate hike by Turkey’s Central Bank

Interest rate hike by Turkey’s Central Bank

Central Bank has increased the policy rate from 8.25 to 10.25 percent. “The tightening steps taken since August should be reinforced in order to contain inflation expectations and risks to the inflation outlook,” the Bank has noted.

24 September 2020

Turkey’s Central Bank keeps policy rate constant at 8.25 percent

Turkey’s Central Bank keeps policy rate constant at 8.25 percent

The Central Bank has kept the policy rate (one-week repo auction rate) constant at its current level of 8.25 percent. Referring to the “uncertainties regarding demand conditions,” the Bank has said that “it will continue with its liquidity measures.”

Turkey's Central Bank to 'use all tools' to reduce currency volatility

Turkey's Central Bank to 'use all tools' to reduce currency volatility

The bank's statement came after a spike in the US dollar and Euro.

Central Bank keeps policy rate constant

Central Bank keeps policy rate constant

The bank has held its one-week repo rate unchanged at 8.25 percent, keeping it steady for the second straight month.

Turkey's April Current Account Balance in 5,06 Billion Dollars of Deficit

Turkey's April Current Account Balance in 5,06 Billion Dollars of Deficit

Exports dropped faster than imports amid the coronavirus pandemic, according to the Central Bank.

Turkey’s Central Bank Cuts Policy Interest Rate for the Ninth Time in a Row

Turkey’s Central Bank Cuts Policy Interest Rate for the Ninth Time in a Row

Central Bank has reduced the policy rate (one-week repo auction rate) from 8.75 to 8.25 percent. “While uncertainties on global economic recovery remain high, normalization steps taken by several countries are being watched,” the Bank has said.

Central Bank Cuts Year-End Inflation Forecast

Central Bank Cuts Year-End Inflation Forecast

The 0.8 percentage point fall was driven by the downward revision in the projections of the output gap and food inflation, the Central Bank governor has said.

Central Bank Reduces Policy Interest Rate from 9.75 to 8.75 Percent

Central Bank Reduces Policy Interest Rate from 9.75 to 8.75 Percent

Central Bank has reduced the policy rate (one-week repo auction rate) from 9.75 to 8.75 percent. Referring to the spread of the coronavirus, the bank has indicated that it continues to take expansionary measures in this context.

Central Bank Reduces Policy Interest Rate from 10.75 to 9.75 Percent

Central Bank Reduces Policy Interest Rate from 10.75 to 9.75 Percent

Central Bank has reduced the policy rate (one-week repo auction rate) from 10.75 to 9.75 percent: “The pandemic disease is closely monitored for its evolving global impact on capital flows, financial conditions, international trade and commodity prices."

Central Bank Reduces Interest Rates for the Sixth Time in a Row

Central Bank Reduces Interest Rates for the Sixth Time in a Row

Central Bank has reduced the policy rate (one-week repo auction rate) from 11.25 percent to 10.75 percent, which marks the sixth interest rate cut in a row since July 2019.

19 February 2020

Central Bank Reduces Interest Rates for the Fifth Time in a Row

Central Bank Reduces Interest Rates for the Fifth Time in a Row

Interest rates have fallen by 1,200 basis points since last year.

16 January 2020

Central Bank Reduces Policy Rate to 12 Percent

Central Bank Reduces Policy Rate to 12 Percent

The bank reduced the one-week repo rate for the fourth time since July.

12 December 2019

Further Interest Rate Cut by Central Bank

Further Interest Rate Cut by Central Bank

The Monetary Policy Committee of the Central Bank has cut the policy rate by 250 basis points, thereby lowering it from its former level of 16.50 percent to 14 percent.

24 October 2019

Central Bank Cuts Interest Rates

Central Bank Cuts Interest Rates

The Central Bank Monetary Policy Committee has reduced the policy rate from 19.75 percent to 16.50 percent.

12 September 2019

Central Bank Cuts Year-End Inflation Forecast to 13.9 Percent

Central Bank Cuts Year-End Inflation Forecast to 13.9 Percent

The Central Bank has cut its year-end inflation forecast from 14.6 percent to 13.9 percent, Governor Uysal has announced.

Erdoğan: Interest Rate Cut of Central Bank Not Enough

Erdoğan: Interest Rate Cut of Central Bank Not Enough

Speaking about the purchase of S-400s from Russia, President Erdoğan has stated, “I hope that the US will act with common sense.” Addressing the interest rate cut of Central Bank, he has said that “it needs to continue gradually till the end of the year.”

Central Bank Decreases Interest Rate from 24 Percent to 19.75 Percent

Central Bank Decreases Interest Rate from 24 Percent to 19.75 Percent

The Monetary Policy Committee of the Central Bank has cut the political interest rate by 4.25 percent, decreasing it from its former level of 24 percent to 19.75 percent.

New Central Bank Head Accused of Plagiarism

New Central Bank Head Accused of Plagiarism

Murat Çetinkaya, who was appointed as the head of Central Bank by President Erdoğan, allegedly plagiarized his master's thesis in 2001.

Central Bank Governor Murat Çetinkaya Discharged from Office

APPOINTMENT BY PRESIDENTIAL DECREE

Central Bank Governor Murat Çetinkaya Discharged from Office

Murat Çetinkaya, the Governor of the Central Bank of the Republic of Turkey, has been discharged from office by a Presidential decree. Central Bank former Vice Governor Murat Uysal has been appointed in his place.

Central Bank Does Not Change Interest Rate, Exchange Rate of Dollar Sees 5.96 TRY

Central Bank Does Not Change Interest Rate, Exchange Rate of Dollar Sees 5.96 TRY

Central Bank has again kept the political interest rate fixed at its current level of 24 percent. Unlike its statement in March 2019, this month’s statement does not include the sentence “an additional monetary tightening can be introduced if needs be.”

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