NO INTEREST RATE CUTS WITHOUT INFLATION UNDER CONTROL
Central Bank Governor Fatih Karahan said interest rate cuts can only be effective when inflation is under control.
Analysis
In-Depth Analysis
Smart, independent reporting on Turkey's politics, economy and foreign affairs.
RISING FORECASTS, OPPORTUNIST PRICING
Turkey's inflation and high cost of living show no sign of easing. A new Central Bank survey points to rising price expectations — coming just days after the bank officially revised its own forecasts upward.
FASTER INFLATION AND WIDER CURRENT ACCOUNT DEFICIT THREATEN ŞİMŞEK’S PLAN
Finance Minister Mehmet Şimşek warned investors to expect a worsening in the country’s current account and the central bank said it expects faster inflation as strain grows on the government’s economic plans.
CENTRAL BANK KEEPS INTEREST RATES UNCHANGED AMID INTENSIFYING POLITICAL PRESSURE
The central bank kept its benchmark policy rate unchanged at 37% on April 22, meeting the expectations of most analysts. The decision comes following intensified criticism of both the bank and Finance Minister Mehmet Şimşek, 59, from the business world and media outlets close to the government.
OUTGOING CENTRAL BANK DEPUTY GOVERNOR’S REMARKS SPARK POLITICAL BACKLASH
Internal friction among top economy officials came to light after a senior central banker dismissed the impact of political cycles on monetary policy. The remarks by Deputy Governor Cevdet Akçay triggered a sharp rebuke from pro-government figures and suggestions of a rift between the central bank and the Presidency.
CENTRAL BANK SPENDS $23.5B IN TWO WEEKS TO DEFEND LIRA
The central bank spent approximately $23.5 billion in foreign exchange interventions during the first two weeks of the Iran war to defend the Turkish lira.
TURKEY LIKELY TO DELAY RATE CUTS DUE TO IRAN TENSION
The central bank may pause its easing cycle at the March 12 meeting amid growing uncertainty caused by the U.S. attack on Iran.
KARAHAN: INFLATION IS LIKE A VIRUS—ERADICATING IT TAKES TIME
Central Bank Governor Fatih Karahan has likened inflation to a virus, saying it becomes harder to eliminate the longer it lingers in the economy. “We are applying the right prescription,” he said. “We’ve achieved positive results so far, and we have no doubts about our ultimate goal. But the effect of the prescription varies from case to case.”
CENTRAL BANK SLOWS PACE OF RATE CUTS
The Central Bank eased interest rates more cautiously at its latest meeting, following a sharper-than-expected rise in inflation in September.
KARAHAN: POLICY WILL BE TIGHTENED IF TARGET IS MISSED
Central Bank Governor Fatih Karahan said that if the inflation target is missed, monetary policy will be tightened.
CENTRAL BANK CUTS CREDIT CARD INTEREST RATES
The Central Bank reduced the calculation margins for credit card cash advances and overdraft account interest rates by 25 basis points.
CENTRAL BANK CUTS INTEREST RATES
The Central Bank reduced its policy interest rate, the one-week repo auction rate, from 43% to 40.5%, the second straight cut.