Central bank

Turkey Bans Cryptocurrency Use for Payments

The Turkish central bank (also known as CBRT or TCMB) has issued "Regulation on the Disuse of Crypto Assets in Payments." It was published Friday in the official newspaper of the Turkish government.

The central bank also announced Friday that "studies on the regulation regarding the disuse of crypto assets in payments have been completed."

Turkish Central Bank dismisses calls for tighter fiscal policy as lira continues its plunge

Turkey's central bank held rates steady at 19% as expected on Thursday and dropped a pledge to tighten policy further if needed, in its first decision since President Tayyip Erdogan fired the hawkish former governor and sparked a market selloff.

Central bank holds interest rate at 19% under new chief

Turkey's central bank on April 15 held its main interest rate at 19 percent in the first decision since President Recep Tayyip Erdoğan sacked its former governor.

In its fourth Monetary Policy Committee (MPC) meeting under new Governor Şahap Kavcıoğlu, the bank made no changes to its benchmark policy rate - also known as the one-week repo rate- keeping it at 19%.

Turkish banks can cover short market closure: Fitch

The foreign-currency liquidity of Turkish banks is sufficient to cover a short-lived market closure and moderate outflow of FX deposits, according to credit ratings agency Fitch on late on April 6. 

It projected the banks' short-term foreign currency debt service requirement, in the extreme event of a full market shut down for 12 months, has increased to $45 billion-$50 billion.

Central Bank to ensure credibility of lira currency: Governor

The Turkish Central Bank will ensure the strength and credibility of the Turkish lira with the determination of its fight against inflation, the bank's new governor said on March 30. 

"We will continue to use all the tools we have, independently and effectively," Şahap Kavcıoğlu said during an ordinary general assembly of bank officials.

Central Bank reserves at $95.3 bln in February

The Turkish Central Bank's reserves amounted to $95.3 billion at the end of February, the bank announced on March 26. 

Total reserve assets posted a slight monthly decline of 0.4%, according to the bank's international reserves and foreign currency liquidity report.

Foreign currency reserves-in convertible foreign currencies- totaled $53 billion, up 2.1% on a monthly basis.

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