Monetary policy

BNR:Annual inflation rate could rise above upper limit of target range in second half of year

The annual inflation rate is expected to rise visibly above the upper limit of the target range in the second half of this year, to 4.1% in December 2021, compared to the previous forecast's 3.4%, according to the minutes of the monetary policy meeting of the National Bank of Romania (BNR) Board of Directors on May 12, 2021.

Annual inflation rate rises to 3.2% in April

The annual inflation rate rose to 3.2% in April this year, from 3.1% in March, given that the price of non-food goods rose by 5.21%, food goods by 0.76%, and services by 2.61%, according to data published on Thursday by the National Institute of Statistics (INS). "Consumer prices in April 2021, compared to March 2021, increased by 0.5%.

Central Bank raises inflation forecasts for 2021-22

Turkey's Central Bank on April 29 increased the country's year-end inflation forecast to 12.2% for this year, up from 9.4% in its previous report.

The figure is expected to fluctuate between 10% and 14.4% through the end of this year, Şahap Kavcıoğlu, the bank's governor, told a virtual meeting held to release the bank's second quarterly inflation report in 2021.

Turkish Central Bank dismisses calls for tighter fiscal policy as lira continues its plunge

Turkey's central bank held rates steady at 19% as expected on Thursday and dropped a pledge to tighten policy further if needed, in its first decision since President Tayyip Erdogan fired the hawkish former governor and sparked a market selloff.

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%.

Central Bank to ensure credibility of lira currency: Governor

The Turkish Central Bank will ensure the strength and credibility of the Turkish lira with the determination of its fight against inflation, the bank's new governor said on March 30. 

"We will continue to use all the tools we have, independently and effectively," Şahap Kavcıoğlu said during an ordinary general assembly of bank officials.