The Central Bank

OpenCalais Metadata: Ticker


Inflation will fall after May: Şimşek

Türkiye's annual inflation will begin to decline sharply "in line with our predictions" after it reaches peak in May, Finance Minister Mehmet Şimşek has said.

His remarks came after the data from the Turkish Statistical Institute (TÜİK) showed on May 3 that the annual inflation rate accelerated from 68.5 percent in March to 69.8 percent in April.

Central Bank eases securities maintenance rules for lenders

The Central Bank has announced that it will scrap the implementation regarding securities maintenance based on loan growth while raising the monthly maximum interest rates to be charged for credit cards. 

The bank said it is considering terminating the securities maintenance practice "in a short while."

Retail prices in Istanbul rise 3.9 percent in March

The monthly increase in retail prices in Istanbul slowed from 4.07 percent in February to 3.93 percent in March, according to data from the Istanbul Chamber of Commerce (İTO).

On the back of the March reading, the annual inflation in Türkiye's megacity accelerated from 76.58 percent to 74.22 percent.

Prices rose by 15.42 percent compared with the end of 2023.

Number of people default on loan, card payments falls in 2023

The number of people with unpaid consumer loans and credit card payments declined by 11.6 percent last year from 2022 to 1.32 million, according to data Encazip compiled.

In 2022, nearly 1.5 million people failed to make consumer loans and credit card payments, according to the numbers of the Turkish Banks Association's (TBB) Risk Center.

Excessive demand will vanish later this year: Şimşek

Excessive domestic demand that has caused higher inflation will disappear around the second and third quarter of this year, Finance Minister Mehmet Şimşek has said.

The Central Bank is taking additional tightening measures, the minister said in an interview with private broadcaster CNN Türk. "We are fully supporting this."