Central Bank

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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.”

Central Bank Does Not Change Interest Rate

Central Bank Does Not Change Interest Rate

The Monetary Policy Committee of the Central Bank has not changed the political interest rate, keeping it fixed at its current level of 24 percent.

Turkey Posts Current Account Deficit of 27.6 Billion USD in 2018

Turkey Posts Current Account Deficit of 27.6 Billion USD in 2018

Turkey has posted a current account deficit of 1 billion and 437 million US Dollars in December. The country's current account has recorded a deficit of 27 billion and 633 million dollars.

14 February 2019

Central Bank Does Not Change Interest Rate Due to Risk in Price Stability

Central Bank Does Not Change Interest Rate Due to Risk in Price Stability

The Monetary Policy Committee of the Central Bank has not changed the political interest rate, keeping it fixed at its current level of 24 percent. The committee has stated that there are still risks in terms of price stability.

13 December 2018

Central Bank Increases Year-End Inflation Forecast from 13.4 to 23.5 Percent

Central Bank Increases Year-End Inflation Forecast from 13.4 to 23.5 Percent

Central Bank Chair Murat Çetinkaya has announced their inflation forecast for the fourth quarter of 2018. Accordingly, the year-end inflation forecast of the Central Bank has been increased from its previous level of 13.4 percent to 23.5 percent.

31 October 2018

Central Bank Does Not Change Interest Rate

Central Bank Does Not Change Interest Rate

Central Bank has not changed the political interest rate, keeping it fixed at 24 percent. The bank has also announced that it has been maintaining its “tight stance in monetary policy".

25 October 2018

Central Bank Increases Interest Rate by 6.25 Points

Central Bank Increases Interest Rate by 6.25 Points

The Monetary Policy Committee of the Central Bank has increased the interest rate by 6.25 points. With this change, the interest rate has increased from 17.75 to 24 percent.

13 September 2018

Central Bank Signals Interest Rate Hike

Central Bank Signals Interest Rate Hike

After the Turkish Statistical Institute has announced the inflation figures for August 2018, the Central Bank has released a statement, signalling an interest rate hike.

3 September 2018

2 Actions by Central Bank to Prevent Depreciation of Turkish Lira

2 Actions by Central Bank to Prevent Depreciation of Turkish Lira

The Central Bank has taken two actions in an attempt to prevent the further depreciation of Turkish Lira, announcing that “it will provide all the liquidity the banks need.”

Inflation Rate in July is 15.85 Percent

Inflation Rate in July is 15.85 Percent

The Turkish Statistical Institute has announced the inflation figures for July 2018. The annual inflation rate in July has been measured as 15.85 percent, which marks an increase of 0.55 percent in comparison with June 2018.

Central Bank Increases Its Inflation Forecast by 5 Percent

Central Bank Increases Its Inflation Forecast by 5 Percent

The Central Bank has released its inflation report for the third quarter of 2018 and increased its inflation forecast from 8.4 percent to 13.4 percent.

Central Bank Does Not Increase Interest Rate; Market Reacts Negatively

Central Bank Does Not Increase Interest Rate; Market Reacts Negatively

After the Central Bank has announced that it has kept the political interest rate fixed at 17.75 percent, the Turkish Lira has decreased in value against the US Dollar. The exchange rate of dollar has reached the level of 4.94 TRY.

Economy of Turkey Grows by 7.4 Percent in First Quarter; Current Account Deficit Exceeds Expectations

Economy of Turkey Grows by 7.4 Percent in First Quarter; Current Account Deficit Exceeds Expectations

While the economy of Turkey has grown by 7.4 percent in the first quarter of 2018, the current account deficit in April 2018 has exceeded expectations.

Deputy Prime Minister Şimşek: Volatility is Not Peculiar to Turkey

Deputy Prime Minister Şimşek: Volatility is Not Peculiar to Turkey

Deputy Prime Minister in Charge of Economy Mehmet Şimşek has stated, “We will take a step back from neither the independence of the Central Bank, nor the market economy.”

US Dollar On The Rise Again Despite Interest Rate Hike by Central Bank

US Dollar On The Rise Again Despite Interest Rate Hike by Central Bank

The exchange rate of US Dollar to Turkish Lira, which fell from the level of 4.80 TRY to 4.50 TRY following the Central Bank’s interest rate hike by 300 basis points, has started to rise again after the markets have opened.

2.2-Billion-Dollar Move by Central Bank Pushes Back Dollar by 0.01 Turkish Lira

2.2-Billion-Dollar Move by Central Bank Pushes Back Dollar by 0.01 Turkish Lira

The Central Bank of Turkey has made 2.2 billion dollars available for the use of banks. However, this new dollar inflow has managed to push back dollar only by 0.01 Turkish Lira.

"Turkey's Public Debate Issues Obsolete" Says PM

"Most of our public debate agenda are older than the fall of the Berlin Wall…Most of our issues, are remnants from the days of 12 September 1980 military coup of 1980", says Prime Minister Erdogan.

23 January 2008 A. Nilüfer Zengin Kürkçü

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