The Central Bank of Turkey (TCMB) is expected to keep its key interest rate unchanged this week, according to information from the Bank’s environment cited by various Turkish media today. This will be the second meeting of the year and is within the timeframe of the quarter in which Turkish President Recep Tayyip Erdogan said […]
Tag: Central Bank of Turkey
The Turkish Ministry of Finance expects a reduction in inflation from the summer – A new package of measures is coming
“The burden of inflation will remain for the whole of 2022,” Turkish Finance Minister Nurettin Nebati said in an interview with Habertürk. Despite this statement, the Turkish Ministry of Foreign Affairs noted that it expects inflation to decrease during the summer period. He went on to say that according to his estimates, inflation will reach […]
Turkish Ministry of Foreign Affairs points out the gold that is ‘under the mattress’ – Announces new measures
Turkish Finance Minister Nurettin Nebati will announce on Saturday measures to tackle price increases and bring gold “under the mattress” into the financial system, in a package that includes support from the Credit Guarantee Fund (KGF). according to Turkish media. Anadolu news agency reported that top corporate executives, bank executives and business representatives were due […]
Inflation in Turkey is at its highest level since April 2002
Turkey’s inflation accelerated to a near 20-year high in January, driven by rising energy prices and pressure from President Recep Tayyip Erdogan on lower borrowing costs. Turkey’s annual inflation rate rose further in January, reaching its highest level since April 2002, the Turkish statistical office Turkstat said on Thursday. The consumer price index increased by […]
The ‘secret’ interventions of the Central Bank of Turkey keep the pound at 13.5
Turkey’s central bank cut its monetary intervention in January, but still spent up to $ 1 billion last week to keep the pound stable after last month’s volatility, according to estimates by bankers and economists who spoke to Reuters. The figures show that the bank sold nearly $ 20 billion in foreign exchange reserves in […]
Turkey, UAE sign $ 5 billion foreign exchange deal
The central banks of Turkey and the United Arab Emirates (UAE) have signed an exchange agreement of a nominal size of 18 billion UAE dirhams and 64 billion Turkish lira ($ 4.7 billion), the Republic of Turkey (TBA) announced on Tuesday. “The agreement, which is designed to promote bilateral trade with the aim of further […]
Anadolu Agency does not expect interest rate cuts this month from the Central Bank of Turkey
The Turkish Central Bank is expected to keep interest rates unchanged at 14%, according to a committee of economists who took part in a survey by the Anadolu agency on Friday. Next Thursday, the bank will hold its first meeting of the Monetary Policy Committee (MPC) this year to announce its latest interest rate decision. […]
UniCredit: Dangerous deterioration of economic conditions in Turkey
Her Eleftherias Kourtali In 2021, the Turkish authorities reverted to a policy of low interest rates at all costs, with the risk of both economic and political consequences, as UniCredit notes in a new report on the outlook for 2022. The excessive devaluation of the currency, he adds, could lead to dangerously “tight” economic conditions […]
Profits for the Turkish pound – Fall of inflation from May announced by the Turkish Ministry of Finance
The Turkish pound gained slightly on Friday after Turkish Finance Minister Nuredin Nebati said inflation would peak in January and start falling in May, reaching single-digit levels by June 2023, when elections are scheduled. According to Reuters, the pound gains 0.7% at 10.00 (Greek time) trading at 13.51 against the dollar. It weakened 44% last […]
Analysts predict that the dollar-Turkish lira exchange rate will exceed 20
Financial analysts at TD Securities expect a further sharp depreciation of the Turkish lira. As they stated, speaking to FXStreet, they predict that the dollar / pound exchange rate will exceed the level of 20 in the second quarter of the year. “We believe that the exchange rate will rise to 16.25 by the end […]
