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.

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.

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.

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.

Pages