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...
Tag: Central Bank of the Republic of Turkey
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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...
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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...
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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%...
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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...
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Meaningful support to export investments
BY BADER ARSLAN Despite high price increases and the growing current account deficit, the Turkish economy is ending a quarter in which exports contributed significantly to industrial production and growth. Yes, a significant part of the first quarter performance, which exceeded 20 percent for exports, is due to global price increases and the growth of...
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Interest rate remains steady
The Central Bank kept the policy rate steady at 14% at the Monetary Policy Committee (PPK) meeting in line with the market expectations. The expression that the Committee decided to strengthen the macroprudential policy set was added to the PPK’s statement. In a statement, the bank pointed out that rising energy costs resulting from geopolitical...
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Current account deficit at USD 5.15bn in February
Turkey’s current account balance registered a USD 5.15bn deficit in February, widening USD 2.71bn year-on-year, according to the Central Bank The bank said the country’s 12-month rolling deficit stood at USD 21.84bn in February. Goods trade deficit rose USD 3.9bn annually to reach USD 6bn. Services item showed a net surplus of USD 1.61bn, increasing...
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The gap between interest rate and inflation continues to widen
BY BADER ARSLAN RECORD IN EXPORTS AND IMPORTS Turkey’s exports increased by 19.8% in March to USD 22.7bn, according to provisional data announced by the Ministry of Commerce. Imports increased by 31%, data showed. Both exports and imports reached their highest levels ever. These data closed out the first quarter of the year. The three-month...
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Hike in inflation expanded across subgroups: Central Bank
The prices of energy, food, and basic products made the most significant contributions to the surge in inflation in March, according to the Price Developments Report, prepared by the Central Bank. The report, where the bank interpreted March inflation data, also found that the increase in commodity prices has been exacerbated by geopolitical developments. Here...