Monetary Policy Committee
Central Bank hikes key interest rate by 500 bps to 50 percent
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.
Rate on credit card cash advances increased
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.
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Central Bank keeps policy rate unchanged as expected
As widely expected, Türkiye's Central Bank kept its policy rate unchanged at 45 percent after eight straight months of rate hikes.
Central Bank lowers required reserves for FX-protected accounts
The Central Bank has changed reserve requirement ratios in a move that aims to encourage shift to Turkish Lira deposits.
The reserve requirement ratios for FX-protected accounts with maturities up to six months will be reduced from 30 percent to 25 percent, the bank announced on Jan. 30.
Türkiye’s Central Bank increases benchmark interest rate to 45 percent
The Central Bank of Türkiye has hiked its key interest rate by another 250 basis points to 45 percent, also signaling an end to its aggressive tightening cycle.
Interest rate high enough to lure foreigners: Bank executive
The current level of interest rates is high enough to lure foreign investors, says Hakan Aran, the general manager of private lender İşbank, adding that the Central Bank may post another rate hike.
The Central Bank last week lifted the policy rate from 40 percent to 42.5 percent, which marked the seventh hike since June.
Central Bank meets to decide on key interest rate
The Central Bank's Monetary Policy Committee (MPC) is set to convene for the last rate-setting meeting of 2023 on Dec. 21.
The bank is widely expected to increase its main policy rate - the one-week repo auction rate - from the current 40 percent to 42.5 percent.
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Şimşek, Erkan to meet investors in New York
Finance Minister Mehmet Şimşek and Central Bank Governor Hafize Gaye Erkan will travel to New York next month to meet with investors.
As part of the "Investor Day" event to be held on Jan. 11, Erkan will make a presentation to foreign investors on monetary policy and inflation, according to the invitation the Central Bank sent to investors.
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Central Bank to hold investor meetings
Türkiye's Central Bank has announced that it will organize "Investor Days" starting from January next year.
The first Investor Day will be held on Jan. 11, 2024, in New York, according to the bank's statement issued on Nov. 13.
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Central Bank delivers another 500 bps rate hike
In line with market expectations, the Central Bank has increased its policy rate, the one-week repo auction rate, by 500 bps from 30 percent to 35 percent.
Since June, the bank has hiked the policy rate by 2,650 bps.
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