Turkish Central Bank
Turkey's current account balance posted a deficit of $2.8 billion in December 2019, the Turkish Central Bank announced on Feb. 14.
Official data showed that the figure widened by $1.7 billion from same month the previous year.
The country's 12-month rolling surplus totaled $1.67 billion, the bank said.
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 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.