Mehmet Şimşek
EBRD Vice President to visit Türkiye
The First Vice President and Head of Client Services Group of the European Bank for Reconstruction and Development (EBRD) Jürgen Rigterink is to embark on a four-day visit to Türkiye, with stops scheduled for the earthquake-hit cities in the southeast of the country.
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Central Bank hikes key interest rate by 500 bps to 50 percent
Türkiye's Central Bank has decided to opt for lifting the key policy rate, increasing the one-week repo auction rate from 45 percent to 50 percent.
Most economists had expected the Central Bank, which held the policy rate steady last month after eight straight increases, to keep the rate unchanged at the Monetary Policy Committee (MPC) meeting on March 21.
Central Bank has a free hand, says Finance Minister Şimşek
Türkiye's Central Bank has a 'free hand' and policymakers at the bank will do what is necessary to reduce inflation, Treasury and Finance Minister Mehmet Şimşek has said.
The essence of the economic program is disinflation, to bring inflation to single digits, Şimşek said in an interview with private broadcaster Kanal 7.
Treasury raises 2 billion euros with bond issue
The Treasury has announced it raised a total of 2 billion euros through a euro-denominated bond issue, bringing the total borrowing in international markets this year to $5.2 billion.
Earlier this week, the Treasury mandated Deutsche Bank, HSBC, JP Morgan and Societe Generale for the bond due 2030.
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Current account balance posts $2.56 billion deficit
Türkiye's current account balance produced a deficit of $2.56 billion in January with the annualized gap continuing to shrink, data from the Central Bank has shown.
This was smaller than the $2.8 billion deficit most economists had predicted.
Volatility in FX market temporary, says Şimşek
The recent volatility in the FX market should be viewed as temporary, Treasury and Finance Minister Mehmet Şimşek has said, vowing to maintain "sound" policies.
"The Central Bank is committed to anchoring inflation expectations using all the tools at its disposal. We will continue to tighten fiscal policy to help the Central Bank reduce inflation," Şimşek wrote on X on March 11.
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Şimşek expects more rating upgrades for Turkish economy
Fitch has upgraded Türkiye's rating by one notch, citing tighter monetary policy are helping reduce macroeconomic vulnerabilities.
Fitch moved the rating to "B+" from "B," while revising the country's outlook to positive from stable.
Excessive demand will vanish later this year: Şimşek
Excessive domestic demand that has caused higher inflation will disappear around the second and third quarter of this year, Finance Minister Mehmet Şimşek has said.
The Central Bank is taking additional tightening measures, the minister said in an interview with private broadcaster CNN Türk. "We are fully supporting this."
Şimşek reiterates 'full support' for Central Bank
Finance Minister Mehmet Şimşek has reiterated his "full support" for the country's Central Bank, as the bank announced additional monetary tightening measures to fight inflation.
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Şimşek rules out scenarios on real depreciation of Turkish Lira
Finance Minister Mehmet Şimşek has ruled out scenarios regarding the real depreciation of the Turkish Lira after the upcoming local elections.
"We do not have an exchange rate target. We are implementing a policy set which makes the lira attractive," Şimşek said in a televised interview on March 4.