The Monetary Policy Committee of the Central Bank of the Republic of Türkiye (CBRT) raised policy interest rate by 500 basis points to 35 percent. The Monetary Policy Committee, which convened under the leadership of CBRT Governor Hafize Erkan on October 26, decided to raise the policy rate, the one-week repo auction interest rate, from
The business world, even those provide a life-long support to Recep Tayyip Erdoğan though crushed by the surging inflation pinned their hopes on Türkiye’s new appointees, Treasury and Finance Minister Mehmet Şimşek and CBRT Governor Hafize Gaye Erkan, as the saviour of country’s economy from its deep-running issues. The reason for this hope was the
After 27 months of stagnant rates, the Monetary Policy Committee of the Turkish Central Bank (CBRT) finally announced on June 22 that the policy rate would be increased to 15 percent, answering the rising expectations and anxious waiting. Is the “Nass” era over, one asks as the word was used by Turkish President Recep Tayyip
The Central Bank of the Republic of Turkey (CBRT) raised the policy rate to 15 percent on June 22 after almost two years of low-interest rate policies The the Monetary Policy Committee (MPC) which held its first meeting under the chairmanship of Central Bank Governor Hafize Gaye Erkan, switched to a monetary tightening policy by
Turkish President Recep Tayyip Erdoğan said that the appointment of Mehmet Şimşek as Treasury Minister should not be contemplated as a change in his cabinet’s economic policies as the former minister’s re-appointment to the post raised the expectations of a shift in low interest rate policy of Erdoğan. However he added that they “accept the
The Central Bank of the Republic of Turkey (CBRT) Monetary Policy Committee (PPK) convened on August 18 and lowered the policy rate by 100 basis points from 14 percent to 13 percent. This interest rate cut was a big surprise even for us who are skeptical of various ongoing incredible things in our beautiful country.
The Central Bank of the Turkish Republic (CBRT) lowered the policy rate from 14 percent to 13 percent amid surging inflation and currency crisis. The CBRT decided to lower the long been steady 14 percent policy interest rate to 13 percent after the Monetary Policy Board meeting on Aug. 18. “The Board evaluated that the
Turkey’s opposition block formed by the six opposition parties vowed to ensure independent monetary management in the event that they came to power in a new report announced on June 13. “The Institutional Reforms Commission” established by the six-party opposition block finished its first report which focused on the block’s reform propositions to be implemented