Inflation

Türkiye's Central Bank has decided to opt for lifting the key policy rate, increasing the one-week repo auction rate from 45 percent to 50 percent.

Most economists had expected the Central Bank, which held the policy rate steady last month after eight straight increases, to keep the rate unchanged at the Monetary Policy Committee (MPC) meeting on March 21.

Inflation in Türkiye was higher than expected in January and February due to various reasons, but will gradually lose momentum in March, according to Vice President Cevdet Yılmaz.

"In no other country in the world would this kind of tolerance pass" he said for students who repeatedly break the law - He called on the rectorate authorities to assume their responsibilities - First priority is the battle with price inflations

Japan's central bank on March 19 scrapped its negative interest rate as it finally began unwinding one of the world's most aggressive monetary easing programs.

The maverick policy dating back to 2013 was aimed at jump-starting economic growth and inflation after the country's "lost decades" of stagnant activity and prices in the world's number four economy.

In February 2024, the euro area witnessed a decline in its annual inflation rate, dropping to 2.6% from January's 2.8%. This shift marks a substantial decrease compared to the previous year's rate, which stood at a notable 8.5%.

Türkiye's Central Bank has a 'free hand' and policymakers at the bank will do what is necessary to reduce inflation, Treasury and Finance Minister Mehmet Şimşek has said.

The essence of the economic program is disinflation, to bring inflation to single digits, Şimşek said in an interview with private broadcaster Kanal 7.

The inflation expectations for the end of 2024 increased from 42.96 percent last month to 44.19 percent in March, according to the Central Bank's Survey of Market Participants.

The 12-month ahead inflation expectations fell from 37.78 percent to 36.7 percent, while participants of the survey lowered their 24-month ahead inflation forecasts from 23.05 percent to 22.67 percent.

The Central Bank has raised the monthly maximum interest rate on credit card cash withdrawals from 4.42 percent to 5 percent.

The bank's decision, which aimed at curbing credit card spending, was published in the Official Gazette on March 16 and came into force.

As gold prices surge to record highs, jewelry stores are grappling with dwindling supplies, prompting concerns about market stability and future price trends, with Istanbul Chamber of Jewelers reporting intensified production efforts at the General Directorate of Mint and Stamp Printing House.

The Harmonized Index of Consumer Prices (HICP) in Cyprus rose by 2.1% between February 2023 and February 2024, according to data published by the Statistical Service of Cyprus (CyStat) on Friday.