content tagged with interest rate

Turkey’s interest rate surpasses inflation for the first time in three years

Turkey’s interest rate surpasses inflation for the first time in three years

The Central Bank kept the policy rate unchanged at 50% while the official inflation rate dropped below this rate for the first time in 14 months.

17 October 2024

Central Bank keeps policy rate constant

Central Bank keeps policy rate constant

After significant increases in the interest rates for a year, the bank kept the rate unchanged in the last two months.

Turkey's Central Bank keeps policy rate constant, acknowledges inflation will rise in July

Turkey's Central Bank keeps policy rate constant, acknowledges inflation will rise in July

The bank has warned that inflation is expected to rise temporarily in July due to adjustments in administered prices, taxes, and supply-side factors in unprocessed food prices.

Turkey hikes interest rates by 750 basis points

Turkey hikes interest rates by 750 basis points

The Turlish lira gained value following the decision.

Turkey raises policy rate by 250 basis points to 17.5%

Turkey raises policy rate by 250 basis points to 17.5%

The monetary tightening process will continue, the Central Bank has said.

Turkey hikes interest rates for first time in 27 months

Turkey hikes interest rates for first time in 27 months

The 650-basis point hike following the latest MPC meeting demonstrates a shift in the bank's approach under a new leadership after the elections.

Türkiye's Central Bank cuts policy rate by 50 basis points

Türkiye's Central Bank cuts policy rate by 50 basis points

The bank has said it lowered the rates to support the recovery in the aftermath of the devastating earthquakes.

23 February 2023

Türkiye cuts policy rate to 9 percent, ends easing cycle

Türkiye cuts policy rate to 9 percent, ends easing cycle

The bank said it decided to stop the rate cut cycle "considering the increasing risks regarding global demand."

24 November 2022

Central Bank is following 'Erdoğan's path'

Central Bank is following 'Erdoğan's path'

The bank has cut the policy rate by 150 basis points and signaled that it may consider stopping interest rate cuts after next month's meeting.

21 October 2022 Wouter Massink

Central Bank cuts interest rate for second month in a row

Central Bank cuts interest rate for second month in a row

Following the decision, the Turkish lira dropped to as low as 18.41 against the US dollar.

22 September 2022

Central Bank cuts policy rate for the first time in eight months

Central Bank cuts policy rate for the first time in eight months

The bank vowed to "continue to use all available instruments decisively within the framework of liraization strategy until strong indicators point to a permanent fall in inflation."

Central Bank keeps interest rate constant for the seventh month in a row

Central Bank keeps interest rate constant for the seventh month in a row

The one-week policy rate will remain at 14 percent. The "liraization" strategy will continue, said the bank.

Turkey's Central Bank keeps interest rate constant

Turkey's Central Bank keeps interest rate constant

"Increase in inflation is driven by rising energy costs, temporary effects of pricing formations that are not supported by economic fundamentals, and strong negative supply shocks," the bank has said.

Turkey’s Central Bank keeps the policy rate constant at 14 percent

Turkey’s Central Bank keeps the policy rate constant at 14 percent

For the fourth month in a row, the Monetary Policy Committee of the Central Bank has decided to keep the policy rate (one-week repo auction rate) unchanged at 14 percent at its meeting today, on April 14, 2022.

Turkey's Central Bank keeps the policy rate constant for the 3rd time in a row

Turkey's Central Bank keeps the policy rate constant for the 3rd time in a row

The Monetary Policy Committee of the Central Bank convened today, on March 17, and decided to keep the policy rate (one-week repo auction rate) unchanged at 14 percent.

Turkey keeps interest rate constant

Turkey keeps interest rate constant

The Central Bank has kept the interest rate at 14 percent, saying that it will use all instruments decisively "until strong indicators point to a permanent fall in inflation."

20 January 2022

Drifting from one mistake into another

Drifting from one mistake into another

It is not possible for the state to compensate the difference between the exchange rate increase and the interest rate for a long time. The possibility of an election in the fall has increased very much.

22 December 2021 Bülent Danışoğlu

Turkish lira nears 14 to US dollar as Erdoğan speaks again

Turkish lira nears 14 to US dollar as Erdoğan speaks again

"We are refusing the policy of drawing hot money flow with high interest rates," the president has said.

1 December 2021

Erdoğan insists interest rates cause inflation, cites his 'economics education'

Erdoğan insists interest rates cause inflation, cites his 'economics education'

Thanks to his low interest rate policies, the inflation rate will decrease by the next elections, the president has asserted.

29 November 2021

Turkish lira hits new record low after Erdoğan reiterates his inflation-interest rate theory

Turkish lira hits new record low after Erdoğan reiterates his inflation-interest rate theory

The president has signaled a new interest rate cut ahead of the Central Bank meeting.

17 November 2021

USD exchange rate against lira on the increase: Almost 10 lira

USD exchange rate against lira on the increase: Almost 10 lira

The depreciation of the Turkish Lira (TRY) has gained pace. The exchange rate of the US dollar topped 9.97 TRY today, on November 11.

11 November 2021

Turkey cuts interest rate by 200 basis points, dollar jumps against lira

Turkey cuts interest rate by 200 basis points, dollar jumps against lira

The exchange rate of the US dollar rose to 9.48, a new all-time high, against the lira after the Central Bank's decision.

21 October 2021

Turkish lira slides as Central Bank cuts policy rate

Turkish lira slides as Central Bank cuts policy rate

The Central Bank has reduced the policy rate to 18 percent. The US dollar's exchange rate against the lira rose to 8.80 during the day.

23 September 2021

Ahead of Central Bank’s interest rate decision, USD exchange rate against lira on the rise

Ahead of Central Bank’s interest rate decision, USD exchange rate against lira on the rise

The exchange rate of the US dollar increased from 8.43 to 8.65 Turkish Lira last week. Ahead of the Monetary Policy Committee meeting, where it will be decided whether the policy rate will remain unchanged or not, the dollar saw 8.72 earlier today.

20 September 2021

Turkey’s Central Bank keeps interest rates unchanged

Turkey’s Central Bank keeps interest rates unchanged

The Monetary Policy Committee of the Central Bank has kept the policy rate (one-week repo auction rate) fixed at 19 percent, which was increased from 17 percent to this rate at its meeting in March 2021.

Erdoğan: Turkey to start Canal İstanbul project this month, may reduce interest rates in July

Erdoğan: Turkey to start Canal İstanbul project this month, may reduce interest rates in July

The president has said that the opposition shouldn't ask about how the Central Bank's foreign currency reserves of 128 billion dollars were spent.

Central Bank keeps interest rate constant for the second time in a row

Central Bank keeps interest rate constant for the second time in a row

The Monetary Policy Committee of the Central Bank has kept the policy rate (one-week repo auction rate) fixed at 19 percent, as was also the case last month: “All available instruments will be used in pursuit of the primary objective of price stability.”

Turkey’s Central Bank keeps interest rate unchanged

Turkey’s Central Bank keeps interest rate unchanged

The Monetary Policy Committee of Turkey’s Central Bank has kept the policy rate (one-week repo auction rate) fixed at 19 percent.

‘We will keep interest rate above inflation,’ says Central Bank Governor

‘We will keep interest rate above inflation,’ says Central Bank Governor

Turkey’s Central Bank Governor Kavcıoğlu has said that the bank will continue to set the policy rate at a level above inflation, preserving the strong disinflationary effect, until there are strong indicators that point to a permanent fall in inflation.

It's much harder to build trust in economy after change of Central Bank head, says economist

It's much harder to build trust in economy after change of Central Bank head, says economist

The Turkish lira recorded an 11-percent depreciation against the US dollar after Erdoğan replaced the Central Bank governor with a pro-government columnist.

22 March 2021 Hikmet Adal

Erdoğan replaces Central Bank governor following interest rate hike

Erdoğan replaces Central Bank governor following interest rate hike

Stepping back from the lower interest rate policy, Ağbal has been dismissed only four-and-a-half months after his appointment.

Interest rate hike by Turkey’s Central Bank

Interest rate hike by Turkey’s Central Bank

The Monetary Policy Committee of Turkey’s Central Bank has increased the policy rate (one-week repo auction rate) from 17 to 19 percent.

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