Banking

European Central Bank (ECB) chief Christine Lagarde has said that interest rates need to continue rising at a "steady pace" in order to avoid inflation becoming entrenched.

While energy prices have recently come down, Lagarde said underlying inflation continues to rise.

Slovenian banks are sounding the alarm and urging the central bank to ease lending conditions after a significant increase in the minimum wage and new capital requirements have rendered much of the population ineligible for a mortgage.

Analysts are split on when Greece may return to investment grade, in what is seen as a difficult year for the eurozone bond market due to the ECB's aggressive stance, while the national elections are firmly on investors' radars.

Istanbul police have caught the suspect wanted for 19 years on charges of embezzling $4.5 million and 500,000 pounds by getting his customers to sign blank receipts while working as a manager at a bank.

Interest rate cuts will continue, President Recep Tayyip Erdoğan has vowed, calling on investors to benefit from cheaper loans being offered by state banks.

The European Bank for Reconstruction and Development (EBRD) is extending up to €50 million in financing to Yapı Kredi Leasing to expand financing opportunities for borrowers committed to green investments and mitigating climate risks.

Yapı Kredi Leasing is the largest leasing company in Türkiye with a strong track record of transformative green energy endeavors.

The Turkish Central Bank is using a determined strategy to ensure a consistently rising interest in the Turkish Lira, Şahap Kavcıoğlu, the bank's governor, has said.

The Central Bank has announced measures that are designed to lower interest rates on commercial loans and strengthen the monetary transmission mechanism.

Türkiye's central bank on Aug. 18 lowered its main interest rate.

The Central Bank data on the foreign exchange assets and liabilities of non-financial companies showed that those firms' assets increased by $349 million, while their liabilities decreased by $5.9 billion in April from March.

Accordingly, the net foreign exchange deficit was $105 billion indicating a decrease of $6.3 billion from March.