Turkish Central Bank

The parity between the U.S. dollar and Turkish Lira eased slightly on Oct. 19, as expectations about a fresh rate cut by the Turkish Central Bank decreased. 

The Turkish Central Bank cut its overnight lending rate by 25 basis points on Sept. 22, setting aside concerns about inflation in a bid to boost the economy. 
The bank left its benchmark one-week repo rate unchanged at 7.5 percent but reduced the highest of the multiple interest rates it uses to set policy to 8.25 percent.

Market anxiety over the new governor of the Central Bank was somewhat dissipated by the eventual naming of Murat Çetinkaya and his first decision, according to the Bank's former chair Yavuz CaneviThe appointment of Murat Çetinkaya as the new governor of the Central Bank and his first decision to cut the interest rate by 0.50 percent was welcomed by the markets, according to Yavuz Canevi, who se

The Food and Agriculture Ministry has decided to impose a price ceiling for red meat in a bid to control recent rises.

According to new price regulations announced by Minister Faruk Çelik on Feb. 9, the maximum price for a kilo of ground meat will be 32 Turkish Liras (around $11), while the maximum price of a kilo of diced meat will be 34 liras. 

Turkish government will offer permits for meat imports to lower prices and to prevent consumer losses, said Economy Minister Mustafa Elita? on Jan. 26. 

He listed the rise in red meat prices as one of the most negative elements that have increased the country's inflation rate.

The Turkish Central Bank has increased its inflation forecast rate by one point from 6.5 to 7.5 for 2016, having kept its "5 percent target" for the following three years. 

Turkey's current account deficit narrowed to $2.1 billion in November 2015, a decrease of $3.689 billion from November of the previous year, the Turkish Central Bank said in a statement on Jan. 11.

1) Markets see sharp routs ahead of Fed's rate move

The U.S. Federal Reserve finally raised interest rates on Dec. 16, 2015, ending an extraordinary period of government intervention in the financial markets that started at the height of the recession.  

The Turkish Lira has shown significant strength against the U.S. dollar over the last two weeks, as traders have shrugged off the effects of the U.S. Federal Reserve (Fed) rate hike and the Turkish Central Bank's decision to hold rates steady.

Turkey's Central Bank left its main one-week repo interest rate unchanged at 7.5 percent on Dec. 22 in a surprise move, underlying the "volatility in energy and unprocessed food prices."