Central Bank of the Republic of Turkey
The Turkish banking sector is "very strong," said the Central Bank governor on Nov. 25 after meeting with public and private banking officials and bank CEOs.
The Turkish banking sector is also one of the most successful ones in the world, Şahap Kavcıoğlu told a group journalists after the meeting in Istanbul, Turkey's commercial capital.
Commenting on volatility in the foreign exchange markets, Turkey's Central Bank on Nov. 24 decried "unhealthy" and "unrealistic" price formations in those markets, saying they are completely detached from economic fundamentals.
The Turkish Central Bank "implements a floating exchange rate regime and has no commitment to any exchange rate level," it said in a statement.
According to a Reuters poll, the Turkish central bank is expected to cut its key interest rate to 15% from 16% this week