Central bank

Türkiye's Central Bank has delivered another rate cut - for the third month in a row - slashing its policy rate - the one-week repo auction rate - from 12 percent to 10.5 percent.

This was larger than the 100-basis points reduction most analysts had expected.

The Central Bank's Monetary Policy Committee is set to meet tomorrow to consider the key policy rate.

The meeting will take place after President Recep Tayyip Erdoğan said that interest rates should come down to single digits by the end of the year.

Washington – Global economy is in trouble, but given the circumstances Slovenia is in a relatively good financial and economic shape, Finance Minister Klemen Boštjančič and Banka Slovenije Governor Boštjan Vasle said at the end of the a meeting of the IMF and World Bank in Washington, US. The talks focussed on inflation.

Interest rate cuts will continue, President Recep Tayyip Erdoğan has vowed, calling on investors to benefit from cheaper loans being offered by state banks.

Members of the Central Bank's monetary policy committee (MPC) will meet this week to decide about key interest rates.

The gathering scheduled for Sept. 20 will be the ninth MPC meeting in 2022.

The private sector's total outstanding loans received from abroad declined by $7 billion from the end of 2021 to stand at $162 billion as of July, the Central Bank data have shown.

Long-term loans fell by $7.1 billion over the same period to decline to $154.5 billion, whereas the private companies' short-term loans -excluding trade credits - rose by $85mn to $7.6 billion.

The Turkish Central Bank is using a determined strategy to ensure a consistently rising interest in the Turkish Lira, Şahap Kavcıoğlu, the bank's governor, has said.

The last time the Federal Reserve faced inflation as high as it is now, in the early 1980s, it jacked up interest rates to double-digit levels and in the process caused a deep recession and sharply higher unemployment.

On Sept. 8 Chair Jerome Powell suggested that this time, the Fed won't have to go nearly as far.

Political uncertainty and growing economic woes, including spiralling inflation and the threat of a recession, are weighing heavily on the British pound, against both the U.S. dollar and the also struggling euro.    

The Central Bank has announced measures that are designed to lower interest rates on commercial loans and strengthen the monetary transmission mechanism.