Turkish Central Bank

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.

Turkey's Treasury and Finance Ministry is carrying out a study on cryptocurrencies amid recent debate over Bitcoin.

In a press release on Monday, the ministry said it is collaborating with the Turkish Central Bank, the Banking Regulation and Supervision Agency, and the Capital Markets Board in its research.

Turkey's annual inflation rate is projected to rise to 15.45% in February, an Anadolu Agency survey found on Feb. 26. 

Turkey's annual inflation rate in January was 14.97%, up 0.37 percentage points from the previous month.

The Turkish Statistical Institute will announce February's consumer prices index on March 3 Wednesday.

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 on Feb. 18 kept the policy rate unchanged at 17 percent, in line with market expectations.

The Turkish Central Bank on Feb. 18 kept the policy rate stable in line with market expectations.

The bank's policy rate - also known as the one-week repo rate - stands at 17 percent, the bank said in a statement, noting that additional monetary tightening would be delivered if needed.

Amid pressure from the coronavirus pandemic, Turkey ran a current account deficit of $36.7 billion in 2020, the Turkish Central Bank announced on Feb. 12. 

The figure widened from a surplus of nearly $6.76 billion the previous year (with revisions), the bank said.

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.

Turkey's external assets amounted to $228.6 billion at November end, down 9.7 percent from 2019, the Turkish Central Bank announced on Jan. 18.

The country's liabilities against non-residents during the same period rose 2.6 percent to $614.5 billion.

Turkey should see the post-pandemic period as an opportunity to encourage foreign and domestic investment through stronger public governance, said an official from the Organization for Economic Cooperation and Development (OECD).