CENTRAL BANK HOLDS MAIN INTEREST RATE AT 37% AS EXPECTED
Turkey's central bank held its benchmark interest rate steady on Sept. 10, matching market expectations as energy cost pressures continue to pose risks to the inflation outlook.
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TREASURY PAYS RECORD RATES IN BACK-TO-BACK BOND AUCTIONS
Turkey has become the world's most expensive borrower in local currency, agreeing to pay interest rates exceeding 41% during back-to-back domestic bond auctions this week.
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.
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.
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.
İŞ BANK SEES 29% INFLATION, 35% INTEREST RATES AT END-2025
Hakan Aran, head of İş Bank, the country’s largest private lender, said they expect Turkey’s annual inflation to drop to 29% by the end of 2025, with interest rates falling to 35%. Aran shared his predictions regarding the economic normalization process at a press conference. According to Aran, “we may see monthly inflation rates drop below 1% as the normalization process begins in May 2026.”