CENTRAL BANK CUTS INTEREST RATE IN FIRST EASING SINCE JANUARY
The Central Bank cut its benchmark policy rate by 100 basis points to 36% on Oct. 22, its first monetary easing since January, in line with market expectations.
Analysis
In-Depth Analysis
Smart, independent reporting on Turkey's politics, economy and foreign affairs.
CENTRAL BANK HOLDS RATE AT 37% AS BUSINESS SECTOR DEMANDS CREDIT RELIEF
The central bank kept its benchmark policy rate unchanged at 37% during its Monetary Policy Committee meeting on July 23, matching market expectations. However, business leaders are increasingly complaining about high borrowing costs, tight credit restrictions, and falling industrial output.
CENTRAL BANK HOLDS MAIN INTEREST RATE AT 37 PERCENT
The central bank kept its benchmark policy rate unchanged at 37% for the third consecutive meeting on June 11, matching the consensus forecast of economists. The Monetary Policy Committee also held its overnight lending rate at 40% and its borrowing rate at 35.5%. The central bank last altered its policy rate in January with a 100-basis-point cut.
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.