Eurostat's inflation divs for both the Eurozone and Greece have set new records causing a veritable shock around the continent.
In particular, inflation in the eurozone was 8.6% in June from 8.1% in May, according to the preliminary data published today by the official statistical authority of the European Union.
The picture in Greece
Finding the right monetary policy response to tackle soaring inflation is an "art," European Central Bank President Christine Lagarde has said.
"It is not a science," Lagarde said on June 29 at a panel at the ECB's annual central banking conference in Portugal.
"What we are doing there is an element of art," she said.
The Turkish Central Bank revised its reserve requirements regulation on April 23 in a move to strengthen the macroprudential policy toolkit.
Reserve requirements, which used to only be applied to the liability side of balance sheets, will now be applied to asset sides as well, the bank said in a statement.
The Central Bank of Turkey has announced that it will hold an extraordinary general meeting on Feb. 3.
The advance payment of from the bank's 2021 profits to the shareholders and the distribution of reserve funds will be discussed at the meeting next month. The Treasury owns almost all shares o the Central Bank.