Central bank

Goldman Sachs expects Greek banks to show strong results in the third quarter of the year as well, following the trend of the second quarter, with further strengthening of net interest income, which will be supported by the 50-basis point increase in interest rates, to which it is estimated that the European Central Bank will have progressed in the specific period.

President Recep Tayyip Erdoğan has given his "full" support to the new economic policy, Treasury and Finance Minister Mehmet Şimşek has said.

Şimşek and Central Bank Governor Hafize Gaye Erkan met with journalists at a briefing on the government's new medium-term program in the capital Ankara.

Establishing price stability remains the top priority for the government, read a statement released after a meeting of the Economy Coordination board, adding that members of the board also discussed details of the key medium-term program to be announced later this year.

Türkiye's Central Bank is implementing its roadmap designed to lower inflation with gradual and decisive steps, Hafize Gaye Erkan, its governor has said.

Since Erkan took the helm at the bank in June, the Central Bank has hiked its main policy rate, the one-week repo auction rate, by a cumulative 1,650 bps from 8.5 percent to 25 percent.

Lending in Bulgaria remains high against the backdrop of another increase in interest rates by the ECB. The goal of the central bank is to reduce inflation to 2%, but the forecasts are that it will remain high for a long period of time, commented President Christine Lagarde.

The Central Bank raised its end-2023 inflation forecast to 58 percent from 22.3 percent in its previous report, its governor, Hafize Gaye Erkan, said on July 27, vowing to continue the bank's gradual monetary tightening.

After delivering a 250 bps rate hike last week to increase the one-week repo auction rate to 17.5 percent, the Central Bank has announced a series of measures on selective credits and quantitative tightening.

The European Central Bank (ECB) has announced it wants to monitor the liquidity of banks in the eurozone more frequently to reduce the future risk of a financial crisis.

Türkiye's Central Bank has increased its policy rate - one-week repo rate - from 15 percent to 17,5 percent.

The rate hike was widely expected after Mehmet Şimşek once again took the helm at the economy management and Hafize Gaye Erkan was appointed as the new Central Bank Governor.

Members of the Central Bank's Monetary Policy Committee will meet on July 20 to decide about its key interest rate.

At the MPC's June meeting, the policy rate - the one-week repo auction rate - was lifted from 8.5 percent to 15 percent. This was the first rate hike since March 2021.