Central Bank of the Republic of Turkey
Central Bank of the Republic of Turkey
January 18, 2018
Turkish central bank interest rates were not changed at the latest policy review. The one-week repo rate has been at 8.0% since a 50-basis point increase in November 2016. And the 9.25-7.25% overnight lending/borrowing rate corridor has existing since the lending rate was raised a year ago by 75 bps to 9.25%. Turkey is getting […] More
Central Bank of the Republic of Turkey
October 26, 2017
Turkey’s 9.25% marginal funding rate, 7.25% overnight borrowing rate, and 8.0% one-week repo rate were all left unchanged. The last change made in any of these rates was a 75-basis point hike in the marginal funding rate in January of 2017. The Monetary Policy Committee released a statement today defending the decision not to relax […] More
Central Bank of the Republic of Turkey
September 14, 2017
At this month’s review of Turkish monetary policy, no changes were made in the structure of interest rates. A tight stance is in place because of elevated total and core inflation. The one week repo rate has been at 8.0% since a 50-basis point increase last November. The marginal funding rate has been 9.25% since […] More
Central Bank of the Republic of Turkey Fails to Loosen Policy Stance
July 27, 2017
The central bank lending rate has been at 9.25% since hikes of 25 basis points in November 2016 and 75 bps in January of this year. A statement released after the latest policy review observes improved domestic demand and inflation but cautions that “although recent improvements in cost factors and expected partial correction in food […] More
Turkish Central Bank Leaves Interest Rates at Already Elevated Levels
April 26, 2017
The Central Bank of Turkey’s overnight lending rate had previously been raised by 25 basis points in late November and 75 basis points two months later to the current level of 9.25%. The one-week repo rate was also lifted back in November by 50 basis points to its present level of 8.0%, while the overnight […] More
Central Bank of the Republic of Turkey: No Further Rate Hikes This Time
March 16, 2017
A statement released after the latest policy meeting observes that inflation has risen sharply lately, notes that monetary policy has been tightened sharply over recent months, and elects to stay with the status quo this time. Since November 25, the overnight funding rate has been raised a full percentage point to 9.25%, and the one-week […] More
A 75-Basis Point Hike in Turkey’s Overnight Lending Rate
January 24, 2017
Officials at the Central Bank of the Republic of Turkey project only moderate growth consistent, under ordinary conditions, with declining inflation. But because of domestic political uncertainty and global geopolitical strains that have weighed on the currencies of many emerging markets, the lira fell quite significantly. The lagged upward effect of such on Turkish inflation […] More
Central Bank of the Republic of Turkey
December 20, 2016
Turkish monetary policy settings were held unchanged at this month’s meeting. The one-week repo rate was left at 8.0% following a 50-basis point hike at the prior meeting on November 24. The marginal funding rate, which was raised 25 bps to 8.5% in November, stays at the level, and the key borrowing rate of 7.25% […] More
Central Bank of the Republic of Turkey
September 22, 2016
Both the overnight marginal funding rate and late liquidity lending rate have been cut by 25 basis points to 8.25% and 9.75%. The 7.5% one-week repo rate and 7.25% overnight borrowing rate were not changed. These moves constitute both and easing of the policy stance and a “measured and cautious” further step toward simplification of […] More
Central Bank of the Republic of Turkey Cuts Marginal Funding Rate Again
August 23, 2016
The MFR had earlier been reduced by 25 basis points in March, 50 bps each in April, May and June, and 25 bps to 8.75% in July. Today’s cut was by 25 basis points to 8.5% versus 10.75% at the start of 2016. The most recent of these easings were implemented in spite of a […] More
