Central Reserve Bank of the Republic of Turkey

Central Reserve Bank of Turkey

December 14, 2017

Current elevated levels of inflation and recent developments in cost factors have increased the risks on expectations and the pricing behavior. Accordingly, the Committee decided to tighten the monetary policy stance. Turkish monetary officials accomplished this tweak by lifting the late liquidity window rate to 12.75%, a level still slightly shy of on-year CPI inflation, […] More

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