The Turkish Central Bank

The Turkish Central Bank is using a determined strategy to ensure a consistently rising interest in the Turkish Lira, Şahap Kavcıoğlu, the bank's governor, has said.

The Turkish Central Bank on Nov. 18 cut its benchmark one-week repo rate by 100 basis points from 16 percent to 15 percent in line with market expectations.

At its 11th Monetary Policy Committee meeting this year, the bank said recent increases in inflation had been driven by supply-side factors such as rising food and import prices, especially in energy, and supply constraints.

The Turkish Central Bank's reserves amounted to $92 billion at the end of May, according to data released on June 28. 

Total reserve assets saw a monthly increase of 4.6%, according to the bank's international reserves and foreign currency liquidity report.

Foreign currency reserves-  in convertible foreign currencies- totaled $46.5 billion, up 2.3% on a monthly basis.

The capacity utilization rate (CUR) in the Turkish manufacturing industry fell on a monthly basis in May, according to official data announced on May 25. 

Local manufacturing industry units operated at 75.3% of their capacity this month, down 0.6 percentage points from March, according to a survey by the Turkish Central Bank.

The Turkish Central Bank's reserves amounted to $95.3 billion at the end of February, the bank announced on March 26. 

Total reserve assets posted a slight monthly decline of 0.4%, according to the bank's international reserves and foreign currency liquidity report.

Foreign currency reserves-in convertible foreign currencies- totaled $53 billion, up 2.1% on a monthly basis.

The Turkish Central Bank is focusing on ensuring permanent price stability while implementing a steady monetary policy, the bank's Governor Naci Ağbal said on March 5. 

"We will continue to take firm steps towards achieving price stability through a confidence-oriented monetary policy in the upcoming period," Ağbal wrote on the bank's blog.

The Turkish Central Bank's reserves amounted to $95.7 billion at the end of January 2020, the bank announced on Feb. 26. 

The Turkish Central Bank has decided to establish three new divisions in a bid to adapt its organizational structure to its priorities, according to a statement issued by officials on Feb. 4. 

Under its Structural Economic Research Department, the bank will form a division in charge of analyzing developments in the food and agricultural product markets.

The Turkish Central Bank's reserves amounted to $82.7 billion at the end of November, the bank announced on Dec. 28. 

Total reserve assets fell 2.2% in November from the end of October, according to the bank's international reserves and foreign currency liquidity report.

The Turkish Central Bank on Dec. 24 announced an interest rate hike of two percentage points, above market expectations.

The bank's policy rate - also known as the one-week repo rate - rose to 17 percent, up from 15 percent, the bank said in a statement.