Turkish Central Bank

The range and the levels of fees and commissions that local banks can charge retail and commercial clients have been lowered, the Turkish Central Bank and the country's banking watchdog regulator (BDDK) have announced.

The measures will cut the various charges banks can charge financial consumers to 16 from 20, the BDDK said.

Turkey's annual inflation rate was recorded at 12.15 percent in January, increasing from 11.84 percent in December 2019, Turkey's statistical authority said on Feb. 3.

The annual inflation rose 0.31 percentage points month-on-month in January, according to the Turkish Statistical Institute (TÜİK).

Turkey's assets abroad hit $248.2 billion at the end of November 2019, rising 8.3 percent from the end of 2018, the Turkish Central Bank revealed on Jan. 20.

The country's liabilities against non-residents saw a slight decrease of 0.5 percent, reaching $595.2 billion during the same period.

Turkey posted an 11.84 percent annual hike in consumer prices in December, the Turkish Statistical Institute (TÜİK) announced on Jan. 3.

The annual inflation rose 1.28 percentage points last month, up from 10.56 percent in November.

December 2018 annual inflation rate was 20.30 percent, according to TÜİK.

The Turkish Central Bank on Dec. 28 revised Foreign Exchange reserve requirement practice and ratios in order to support financial stability and the real loan growth-linked reserve requirement practice, the bank said in a statement. 

The bank has decided to raise reserve requirement ratios for FX deposits/participation funds by 200 basis points for all maturity brackets, it added.

Turkey's external assets hit $247.5 billion as of this September, up 8 percent from 2018-end, the Turkish Central Bank revealed on Nov. 19.

Turkey's current account balance saw a $2.48 billion surplus in September, bettering by $599 million from September 2018, the Turkish Central Bank announced on Nov. 12.

Turkey's net international investment position (NIIP) showed a recovery in August, falling 10% compared to 2018-end, the Turkish Central Bank said on Oct. 18.

The Turkish Central Bank's official reserves totaled $101.6 billion as of the end of August 2019, the bank announced on Sept. 27.       

The Turkish Central Bank on Sept. 12 lowered its one-week repo rate 325 basis points.