Central bank

Greece to ground all flights in bid to contain Covid-19

Prime Minister Kyriakos Mitsotakis is expected to announce the suspension of all passenger flights to and from Greece on Thursday in a televised address expected later in the afternoon, as the government ramps up measures to limit the spread of the novel coronavirus.

According to information obtained by Kathimerini, the suspension will take effect on Sunday night (March 22).

Inflation targets as focal points: Revising the ECB’s monetary framework

The toughest job central banks face in the next five years is managing uncertainty. In the euro area, inflation is persistently low and the ammunition available to raise it is minimal. Meanwhile, structural changes, including the rise of the digital economy and its effects on productivity, and the threat to global open trade, imply that we do not know how the economy will work.

Turkish Central Bank int'l reserves at $102.5 bln in January

The Turkish Central Bank's official reserves stood at $102.5 billion as of the end of January, the bank announced on Feb. 28.

The January figures showed total reserve assets dropped 2.9 percent from the previous month.

Foreign currency reserves - in convertible foreign currencies - fell 4.7 percent to $73.5 billion during the same period.

Turkish Central Bank int'l reserves at $102.5B in January

The Turkish Central Bank's official reserves stood at $102.5 billion as of the end of January, the bank announced on Feb. 28.

The January figures showed total reserve assets dropped 2.9 percent from the previous month.

Foreign currency reserves - in convertible foreign currencies - fell 4.7 percent to $73.5 billion during the same period.

Interest rate cut improves market, investments, official says

The Turkish Central Bank's decision on Feb. 19 to cut interest rates provided leverage for markets, employment and investments, said the head of the Foreign Economic Relations Board of Turkey (DEIK).

The bank's total reduction of 13.25 points over the last six monetary policy meetings supports Turkey's development strategy, Nail Olpak said in a press release on Feb. 19.

Turkish Central Bank lowers interest rates 50 bps

The Turkish Central Bank on Feb. 19 lowered its policy rate (one-week repo rate) by 50 basis points.

In a statement released after Feb. 19's Monetary Policy Committee (MPC) meeting, the bank said the policy rate dropped to 10.75 percent from 11.25 percent.

A survey by Turkey's state-run Anadolu Agency had forecasted a change between 25 and 75 basis points.

Repatriating Romania's gold reserve would cost 10-20 times more than storing it (BNR)

Repatriating Romania's gold reserve would cost 10-20 times more than the commission paid to the Bank of England for storing it there, said, on Tuesday, the Governor of the National Bank of Romania (BNR), Mugur Isarescu, in a press conference. "We will respect the law, the vote of the Parliament.

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