The year-end inflation expectation rose to 57.92%, according to the results of the Market Participants Survey for May by Central Bank. The figure was 46.44% in the previous month’s survey. The CPI expectation for 24 months later, also increased from 17.68% to 19.54%. The participants’ current year-end USD/TRY expectation also rose from 16.85 in the...
Tag: Central Bank of the Republic of Turkey
Post
Post
Short-term foreign debt at USD 132bn in March
Turkey’s short-term foreign debt stock amounted to USD 132bn as of the end of March, according to the Central Bank. The external debt due to be paid over the next 12 months jumped 9.9% from the end-2021, the bank said in a statement. In this period, lenders’ short-term external debt stock increased 6.9% to USD...
Post
Manufacturing capacity inches up in May
Turkey’s manufacturing industry used 78% of its production capacity in May, posting a slight rise from a month ago, according to the Central Bank. The capacity utilization rate (CUR) of the manufacturing industry inched up by 0.2 percentage points from 77.8% in April. The CUR figures are based on the responses given to a business...
Post
Current account deficit at USD 5.56bn in March
Turkey’s current account balance posted a USD 5.56bn deficit in March, growing USD 2.23bn from a year ago, according to the Central Bank. The bank said the country’s 12-month rolling deficit reached USD 24.22bn in March. Goods trade deficit increased USD 3.36bn year-on-year to reach USD 6.34bn. Services item indicated a net surplus of USD...
Post
TRY 100 and TRY 200 banknotes dominate the market
BY SEBNEM TURHAN Inflation, which rose to 69.97% in April, also increases the need for larger value banknotes. The share of TRY 100 and TRY 200 banknotes in the amount of money in circulation jumped from 40.56% to 87.96% in 13 years. The usage of the largest value banknotes has almost doubled after purchasing power...
Post
Real sector confidence up in April
The Real Sector Confidence Index (RSCI) increased by 1.2 points to 109.7 in April, compared to the previous month, according to a survey by the Central Bank conducted with 1,725 companies operating in the manufacturing industry. The overall orders in the last three months, fixed investment expenditures, the general course of business and the current...
Post
Capacity utilization inches up
The Capacity Utilization Rate (CUR) in the manufacturing industry rose by 0.5 points to 77.8% in April, compared to the previous month, according to the Central Bank. The seasonally-adjusted CUR (CUR-SA), meanwhile, dropped by 0.1 points to 78.1% in the same period. Capacity usage increased non-durable consumer goods from 75.6% to 75.7%, in intermediate goods...
Post
Central Bank revises reserve requirement regulation
The Central Bank has revised its reserve requirements regulation in a move to strengthen the macroprudential policy toolkit. Reserve requirements, which used to only be applied to the liability side of balance sheets, will now be applied to asset sides as well, the bank said in a statement. TRY-denominated commercial cash loans given by lenders...
Post
Residential property price index on the rise
The Residential Property Price Index (RPPI) increased by 13.5% to 317.6 points in February, compared to the previous month, according to the Central Bank. The Residential Property Price Index climbed by 14.9% in Istanbul, 16.0% in Ankara and 12.7% in Izmir month-over-month in February. The RPPI surged by 96.4% in nominal terms and by 26.9%...
Post
Net international investment position posts USD 224bn deficit in February
The net international investment position (NIIP), defined as the difference between external assets and liabilities, posted a USD 224bn deficit in February, according to the Central Bank. The figure was USD 229.7bn at the end of 2021. Turkey’s external assets were worth USD 288.1bn in February, down 1.6% from the end of last year. Liabilities...