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Central Bank cuts interest rate by another 100 basis points

Central Bank cuts interest rate by another 100 basis points

The Central Bank’s Monetary Policy Committee (PPK) surprisingly cut the interest rate by 100 basis points to 12%. Thus, the bank reduced the policy rate for the second consecutive month.  TRY touched a record 18.42 versus the USD, surpassing the level reached during a full-blown currency crisis last December. It edged back to 18.36 following...

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Central Bank cuts interest rate to 13%

Central Bank cuts interest rate to 13%

The Central Bank cut its interest rate by 100 basis points from 14% to 13% in an effort to shore up growth, it announced in an official statement. After Russia and China, Turkey’s Central Bank also lowered rates to help ensure economic activity would not slow down, despite economists’ previous expectations that rates would remain...

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Inflation broke another record with price hikes in January

Inflation broke another record with price hikes in January

BY SEBNEM TURHAN The annual inflation rate jumped to 48.69% while consumer prices rose by 11.1% as a result of the price hike in critical sectors, according to the Turkish Statistical Institute (TurkStat). Annual inflation hit a 20-year high in January, seeing its highest level since 2002. The Domestic Producer Price Index (D-PPI) increased monthly...

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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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All eyes on Central Bank’s decision on interest rate

All eyes on Central Bank’s decision on interest rate

The Central Bank is set to announce its decision on the interest rate for the time this year, with analysts expecting no change in the key policy rate. All economists surveyed by Anadolu Agency predicted that the policy rate will be kept constant at 14%. Foreign financial institutions also expect the bank to keep interest...