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Interest rate remains steady

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. In a statement the bank emphasized that the PPK will continue to implement the strengthened macroprudential policy set decisively and take additional measures when needed. Here is the bank’s statement:  >> “The...

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Interest rate remains steady

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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Central Bank kept interest rate constant at 14% 

Central Bank kept interest rate constant at 14% 

The Monetary Policy Committee (MPC) has decided to keep the policy rate (one-week repo auction rate) constant at 14%. “The Committee expects disinflation process to start on the back of measures taken and decisively pursued for sustainable price and financial stability along with the decline in inflation owing to the base effect and the resolution...

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Interest rate remains steady

Interest rate remains steady

The Central Bank kept the policy rate steady at 14% at the first Monetary Policy Committee (PPK) meeting of the year in line with the market expectations. The economy world generally estimated no interest rate change as the Central Bank stated in the December PPK meeting that the cumulative impact of policy decisions would be...

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Erdogan defends pursuit of lower interest rates as lira sinks

Erdogan defends pursuit of lower interest rates as lira sinks

BY BLOOMBERG President Recep Tayyip Erdogan defended his pursuit of lower interest rates to boost economic growth and job creation, pushing the lira to a new record low against the dollar. Turkey has abandoned old policies based on high borrowing costs and a strong currency in the name of slowing inflation, and instead shifted to...

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I won’t stand by anyone who defends interest rates: Erdogan

I won’t stand by anyone who defends interest rates: Erdogan

Turkish President and AK Party Chairman Recep Tayyip Erdogan has underlined the ‘low interest rate’ message at the AK Party’s group meeting . Repeating the idea that the ‘interest is the cause and inflation is the result’, Erdogan said his party will remove the burden of the interest rate burden from the nation.  “We cannot let...

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TRY Rout Imperils One of the Best Bets in Emerging Markets

TRY Rout Imperils One of the Best Bets in Emerging Markets

BY BLOOMBERG The TRY’s slump this month threatens to derail a rally in Turkish corporate bonds that’s handed investors some of the richest returns in emerging markets. The debt, offering returns of 4.4% in 2021, was the second-worst performer in developing nations after President Recep Tayyip Erdogan sacked three central bankers last week. As TRY tumbled, the...