content tagged with policy rate

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 keeps interest rate constant

Turkey keeps interest rate constant

The Central Bank said it will continue to use all available instruments "until strong indicators point to a permanent fall in inflation."

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

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 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’s Central Bank keeps policy rate constant

Turkey’s Central Bank keeps policy rate constant

The Monetary Policy Committee of the Central Bank has kept the policy rate (one-week repo auction rate) unchanged at 14 percent.

17 February 2022

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

Only one country’s central bank cuts policy rate in December: Turkey

Only one country’s central bank cuts policy rate in December: Turkey

The central banks of 14 countries have increased the policy rate this month. The only bank which has reduced it is Turkey's Central Bank. The depreciation of the Turkish Lira against foreign exchanges has hit almost 100 percent since September 2021.

17 December 2021

Central Bank cuts policy rate again, Turkish Lira plummets to new low

Central Bank cuts policy rate again, Turkish Lira plummets to new low

The Monetary Policy Committee of the Central Bank has reduced the policy rate from 15 percent to 14 percent. Following the policy rate cut, Turkish Lira has crashed to a new low and the USD exchange rate has hit 15.61 TRY.

16 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 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

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.

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 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.”

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 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 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

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