Central bank

Central Bank aware of its responsibility on inflation: Ağbal

The Turkish Central Bank is aware of its responsibility in reaching the medium-term inflation target of 5%, said Governor Naci Ağbal on Dec. 25.

The bank will implement all aspects of the inflation-targeting framework, he said at his presentation to the committee on planning and budget of the Grand National Assembly of Turkey.

Turkish Central Bank revises reserve requirements

The Central Bank of the Republic of Turkey (CBRT) on Nov. 27 revised its regulations on reserve requirements to improve the effectiveness of the monetary transmission mechanism in the country.

In line with its main objective of price stability through monetary tightening, the bank decided to simplify its reserve requirement regulations, it underlined in a written statement.

Central Bank reserves at $84.5 bln in October

The Turkish Central Bank's official reserve assets grew 6.1% month-on-month to reach $84.5 billion in October, according to data released on Nov. 27. 

Foreign currency reserves- in convertible foreign currencies- increased by 12.4% to hit $40.8 billion, according to the bank's international reserves and foreign currency liquidity report.