Central bank

Central Bank unveils new measures on COVID-19

The Central Bank of Turkey (CBRT) on March 31 introduced new measures to limit the economic fallout from the novel coronavirus pandemic.

The steps aimed to back monetary transmission mechanisms, banks' flexibility in liquidity management, uninterrupted credit flows to the corporate sector, and firms exporting goods and services.

Investment grade remains elusive

The recent health crisis is dampening hopes of a credit rating upgrade for Greece. According to Capital Economics economist Melanie Debono, "it is now highly unlikely that any government will be upgraded by the credit rating agencies in the near future, given that the world is on the verge of a deep recession. Greece is not immune from this."

Greece to ground all flights in bid to contain Covid-19

Prime Minister Kyriakos Mitsotakis is expected to announce the suspension of all passenger flights to and from Greece on Thursday in a televised address expected later in the afternoon, as the government ramps up measures to limit the spread of the novel coronavirus.

According to information obtained by Kathimerini, the suspension will take effect on Sunday night (March 22).

Inflation targets as focal points: Revising the ECB’s monetary framework

The toughest job central banks face in the next five years is managing uncertainty. In the euro area, inflation is persistently low and the ammunition available to raise it is minimal. Meanwhile, structural changes, including the rise of the digital economy and its effects on productivity, and the threat to global open trade, imply that we do not know how the economy will work.

Turkish Central Bank int'l reserves at $102.5 bln in January

The Turkish Central Bank's official reserves stood at $102.5 billion as of the end of January, the bank announced on Feb. 28.

The January figures showed total reserve assets dropped 2.9 percent from the previous month.

Foreign currency reserves - in convertible foreign currencies - fell 4.7 percent to $73.5 billion during the same period.

Turkish Central Bank int'l reserves at $102.5B in January

The Turkish Central Bank's official reserves stood at $102.5 billion as of the end of January, the bank announced on Feb. 28.

The January figures showed total reserve assets dropped 2.9 percent from the previous month.

Foreign currency reserves - in convertible foreign currencies - fell 4.7 percent to $73.5 billion during the same period.

Pages