Central Bank of the Republic of Turkey

Structural reforms to help lower inflation, says VP Yılmaz

 

Structural reforms will help the government bring inflation down to single digits, Vice President Cevdet Yılmaz has said.

"Inflation has reached levels we do not desire, and we see this as a problem," Yılmaz said at a speech he delivered at a meeting of the ruling Justice and Development Party's (AKP) Ankara branch.

Central Bank takes more simplification steps

Türkiye's Central Bank has announced additional steps under its plan to continue to simplify and improve the existing micro- and macroprudential framework.

The bank on Oct. 26 delivered a 500 basis points hike in its policy rate, the one-week repo auction rate, from 30 percent to 35 percent. The rate hike, which was the fifth time in a row, was in line with economists' expectations.

World Bank has confidence in economic team’s policies: Lopez

The World Bank has confidence in the policies of Türkiye's new economic team, says Humberto Lopez, the bank's country director, adding that the economic outlook for the Turkish economy will improve in mid-2024.

Earlier in September, the global lender decided to more than double its funding for Türkiye to $35 billion over the next three years.

KKM deposits decline, show data

Money parked at the FX-protected deposit accounts, also known as KKM, has declined for the first time since the start of the year.

KKM deposits fell around 39 billion Turkish Liras from 3.41 trillion liras on Aug. 18 to 3.37 trillion liras ($124 billion) as of Aug. 25, the weekly data from the Banking Regulation and Supervision Agency (BDDK) showed.

Pages