Central Reserve Bank of the Republic of Turkey

Turkish Policy Inaction Generates Market Surprise

December 22, 2015

Turkey’s complexity of interest rates — a 7.5% one week repo, 10.75% overnight lending rate, and 7.5% overnight borrowing rate — last got modified on February 24, 2015.  After the prior meeting, hints were conveyed that monetary officials hope to soon start returning to a more conventional single rate objective and that the main one-week […] More

Central Reserve Bank of the Republic of Turkey Eases Only Slightly

February 24, 2015

Cuts today in Turkey’s one-week repo rate, overnight lending rate, and overnight borrowing rate were anticipated but are too small to assuage the frustration of a government that faces parliamentary elections in June, prefers rates to be considerably lower especially since Turkish inflation has fallen to a 20-month low of 7.24%, and has increasingly gone […] More

Turkish Interest Rate Cuts

April 16, 2013

This month’s interest rate meeting at the Central Reserve Bank of Turkey yielded a statement that cut all three interest rates by 50 basis points.  The one-week repo rate, the main policy signal, had bee cut previously by 50 basis points in August 2011 and by another 25 bps in December 2012, now becomes 5.0% […] More