Monetary Policy Committee

Turkish Central Bank lowers interest rates by 200 basis points

The Turkish Central Bank on Oct. 21 lowered its one-week repo rate by 200 basis points, well above market expectation.

The policy rate- also known as the one-week repo rate- decreased to 16% from 18%, the bank said in a statement following its 10th Monetary Policy Committee (MPC) meeting this year.

Turkey appoints new deputy Central Bank governor

Turkey has appointed a new deputy governor to the country's Central Bank and a new member to the bank's Monetary Policy Committee (MPC) while dismissing two deputy governors and one MPC member.

According to a presidential decree early on Oct. 14, Taha Çakmak has been appointed as the new deputy governor of the bank while Yusuf Tuna was appointed as a member of the committee.

Turkish Central Bank lowers interest rate to 18 pct

Turkey's Central Bank on Sept. 23 lowered its one-week repo rate - also known as the policy rate - by 100 basis points to 18 percent.

The Monetary Policy Committee at its ninth meeting this year evaluated core inflation and supply shocks which can be affected by monetary policy, and decided to revise the bank's monetary policy stance.

Central bank holds interest rate at 19% under new chief

Turkey's central bank on April 15 held its main interest rate at 19 percent in the first decision since President Recep Tayyip Erdoğan sacked its former governor.

In its fourth Monetary Policy Committee (MPC) meeting under new Governor Şahap Kavcıoğlu, the bank made no changes to its benchmark policy rate - also known as the one-week repo rate- keeping it at 19%.

Turkish Central Bank keeps inflation forecasts constant

Turkey's Central Bank on Jan. 28 kept the country's year-end inflation forecasts unchanged at 9.4% this year and 7% next year.

The inflation rate will fluctuate between 7.3% and 11.5% through end of this year, the bank's governor told a virtual meeting held to release the bank's first quarterly inflation report in 2021.