ANKARA, Sept. 13 (Xinhua) -- Turkey's central bank beat market expectations on Thursday by hiking its benchmark interest rate to 24 percent, in a bid to stem the double-digit inflation. In a statement, the bank's Monetary Policy Committee said the policy rate was increased to 24 percent...
Turkey’s central bank raised its key interest rate by a lofty 500 basis points to 30% on Thursday, marking a second month of aggressive tightening after President Tayyip Erdogan set aside his long opposition to tight policy. The bank reiterated it is ready to raise rates further as needed t...
| sept. 24, 2020, at 8:48 a.m. save more turkey hikes rates to support currency, fight inflation more ankara, turkey (ap) — turkey’s central bank raised its benchmark interest rate by 2 percentage points on thursday, its first hike in two years to fight inflation and support its ...
The hike was enacted ‘to implement a strong monetary tightening, in order to eliminate risks to the inflation outlook, contain inflation expectations and restore the disinflation process as soon as possible.’ (AFP file photo) ISTANBUL: Turkey’s central bank raised the benchmark interest rate on...
According to the April data from the Turkish central bank, Turkey's short-term external debt stock totalled 130.5 billion dollars in February, and its current account registered a deficit of 5.15 billion dollars in the same month. Turkey's gross foreign exchange reserves dropped to 67.7 billion ...
Explores the economic conditions of Turkey and provides an investment outlook on the country. Rate of increase in the overnight borrowing rate implemented by the Central Bank of Turkey; Forecast on the level of increase of interest rates in the country; Performance of the lira, its national ...
ANKARA: Turkey’s central bank raised Thursday its main interest rate for the first time since September 2018, boosting it by two percentage points to haul the lira up from historic lows. The bank said the one-week repo rate would go from 8.25 percent to
Turkey Central Bank Keeps Rate on Hold Turkey’s Central Bank kept its key interest rate on hold at 10.25% on Thursday, despite market expectations for an increase that would help support the currency. The bank surprised last month with a 2 percentage point rate increase, its first hike in ...
Last year, Turkey’s central bank slashed interest rates by 5 percentage points, down to 9% despite high inflation. In contrast, central banks around the world raised rates to fight soaring inflation. Erdogan, who faces an election in June, had promised a drop in the inflation rate in...
Turkey's central bank leader Hafize Gaye Erkan departed after just eight months. What's next for Turkey's high inflation economy?