Turkish Central Bank

Turkey’s monthly consumer confidence index dropped slightly in December, reaching the lowest this year, according to official data released on Dec. 21.

Turkish Central Bank on Nov. 18 said it has decided to launch Turkish lira-settled forward foreign exchange sale auctions.

The central banks of Turkey and Qatar have signed a memorandum of understanding to develop bilateral cooperation in Qatar’s capital Doha, the Turkish Central Bank announced on Nov. 16.

The latest World Gold Council report shows Turkey has sharply ramped up gold buying with both the central bank and ordinary people joining the rush.

"Bar and coin purchases, a measure of investment demand, were 47 metric tons so far in 2017, compared with 14.8 tons in the same period a year ago," ZeroHedge quotes the report as saying.

The Turkish Central Bank is expected to introduce a new instrument in the upcoming days to help manage the corporate sector’s exchange rate risk, according to Erkan Kilimci, its deputy governor. 

The Turkish central bank said on Nov. 6 some 5.3 billion lira ($1.37 billion) of lira liquidity will be withdrawn from the market and some $1.4 billion of dollar liquidity provided to banks under a change in reserve requirements. 

The Turkish Central Bank left its key interest rates on hold for the third straight meeting on Sept. 14, keeping monetary policy tight after annual inflation rose back to double digits last month.

The bank kept its late liquidity window, the highest of the multiple instruments it uses to set policy, at 12.25 percent and the benchmark repo rate at 8 percent.

The Turkish currency continued its recovery against the U.S. dollar on Sept. 11, after the country's official statistics authority announced soaring economic growth.      

The dollar/lira exchange rate dropped to 3.3986 at around 11 a.m. local time (08:00GMT), down from 3.4080 at Friday's close, ahead of emerging market peers.

Turkey's annual inflation rate stood at 10.68 percent in August, revisiting double digits, with price hikes in cars, oil and LPG becoming the driving force, according to figures by the Turkish Statistical Institute (TÜİK) released on Sept. 5. 

Turkey's monthly inflation rose 0.15 percent in July over the previous month but annual inflation dropped to 9.79 percent, its lowest level in six months, the Turkish Statistical Institute (TÜİK) stated on Aug. 3.

Consumer price inflation fell by 1.1 points, down from 10.9 percent in June, according to TÜİK.