content tagged with interest rates

Central Bank keeps policy rate unchanged: It had been raised eight times

Central Bank keeps policy rate unchanged: It had been raised eight times

The Central Bank, which had previously decided on eight consecutive interest rate hikes, this time kept the bank's policy rate unchanged at 45 percent under the leadership of the new Governor Fatih Karahan.

22 February 2024

Central Bank raises interest rates by 500 basis points

Central Bank raises interest rates by 500 basis points

The Monetary Policy Committee increased the policy rate, which is the one-week repo auction interest rate, from 30% to 35%.

26 October 2023

Was the last interest rise 'rational'?

Was the last interest rise 'rational'?

The rise in interest rates did not meet expectations, according to Prof. Dr. Hayri Kozanoğlu. Warning that inflation will jump, Kozanoğlu says that the policy the economy administration follows is intended to prevent a balance of payments crisis and to strengthen the reserves of the Central Bank.

21 July 2023 Hikmet Adal,Vecih Cuzdan

The cost of exiting the crisis for Turkey

The cost of exiting the crisis for Turkey

The increase in the exchange rate will raise the costs for industries heavily dependent on imported raw materials and intermediate goods. To balance this, reducing labor costs will be presented as a necessity.

12 June 2023 Bülent Danışoğlu

Erdoğan has a new success story as small investors 'conned'

WEEKLY ROUNDUP #14

Erdoğan has a new success story as small investors 'conned'

Ordinary people paid the price for a week of massive fluctuations in the Turkish lira • Political implications of the government's "forex-indexed deposit" tool • Burning of three refugees to death remained covered up for weeks

26 December 2021 Volga Kuşçuoğlu

'Interest rates are decreasing but Turkey's debt is multiplying'

CHP VICE-CHAIR KARABIYIK

'Interest rates are decreasing but Turkey's debt is multiplying'

The gross debt stock of the central government has increased to 2.2 trillion lira over the past few months "because of wrong policies," says the CHP's Lale Karabıyık.

20 December 2021 Hikmet Adal

Erdoğan slams business group over call to 'return to rules of economic science'

Erdoğan slams business group over call to 'return to rules of economic science'

The president cited the Quran for his advocacy of low interest rates. Another business group announced support for his "new economic model."

20 December 2021

Will Turkey declare state of emergency over economic crisis?

Will Turkey declare state of emergency over economic crisis?

A law professor close to the president suggested that "we should be prepared for a state of emergency due to the economic crisis." Economics Mustafa Sönmez has commented about the issue.

15 December 2021 Hikmet Adal

Erdoğan replaces finance minister amid currency crisis

Erdoğan replaces finance minister amid currency crisis

The president had implicitly criticized Lütfi Elvan for opposing his lower interest rate policy, which led the Turkish lira to lose 29 percent in value in a month.

2 December 2021

Opposition lashes out at Erdoğan as dollar spikes following interest rate cut

Opposition lashes out at Erdoğan as dollar spikes following interest rate cut

The exchange rate of the US dollar has surpassed 11 against the Turkish lira. The opposition questions the sharp decrease just before the announcement of the policy rate decision.

19 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

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

'Erdoğan has surrendered Turkey to the interest rate lobby'

'Erdoğan has surrendered Turkey to the interest rate lobby'

After claiming to fight the "interest rate lobby" for years, the president has made Turkey the country with the ninth highest interest rate in the world, the HDP's Paylan has pointed out.

14 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

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

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