Monetary policy
ECB to signal no rush to cut interest rates
European Central Bank (ECB) policymakers are expected to keep interest rates steady on Jan. 25 and signal they are in no hurry to start slashing borrowing costs despite progress against inflation.
The Frankfurt institute is tipped to pause for the third meeting in a row following a historic run of hikes to tame runaway prices, leaving the benchmark deposit rate at 4 percent.
- Read more about ECB to signal no rush to cut interest rates
- Log in to post comments
‘Wild west’ pricing
Inflation had already begun to rear its head in the autumn of 2021, several months before the Russian invasion of Ukraine, and was exacerbated by the war and the tight monetary policy of the European Central Bank, which, instead of boosting supply, was "attacking" imaginary enemies: excess demand that simply did not exist.
- Read more about ‘Wild west’ pricing
- Log in to post comments
Banks to switch to inflation accounting from 2025
Türkiye's banks and other financial institutions will start applying inflation-adjusted accounting next year, the Banking Regulation and Supervision Agency (BDDK) has announced.
- Read more about Banks to switch to inflation accounting from 2025
- Log in to post comments
Moody’s revises Türkiye’s outlook to positive
Moody's has revised Türkiye's outlook from stable to positive, citing it as a "decisive change in economic policy," in particular the return to orthodox monetary policy.
- Read more about Moody’s revises Türkiye’s outlook to positive
- Log in to post comments
NBS keeps key policy rate at 6.50 pct
BELGRADE - The National Bank of Serbia (NBS) Executive Board decided on Thursday to keep the key policy rate on hold at 6.50 pct.
The rates on deposit and lending facilities also remained unchanged at 5.25 pct and 7.75 pct, respectively, the NBS said in a statement.
- Read more about NBS keeps key policy rate at 6.50 pct
- Log in to post comments
Rise expected in deposit rates
US investment bank Jefferies predicts a further increase in interest rates on time deposits in Greece for 2024, favoring a shift from ordinary savings accounts to time deposits.
To date, Greek banks have on average raised interest rates on deposits by just 15%, compared to a eurozone average of 20%, and based on estimates this rate will increase by 50% within 2024.
- Read more about Rise expected in deposit rates
- Log in to post comments
Şimşek, Erkan to meet investors in US this week
Finance Minister Mehmet Şimşek and Central Bank Governor Hafize Gaye Erkan are scheduled to travel to the United States later this week to meet 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.
- Read more about Şimşek, Erkan to meet investors in US this week
- Log in to post comments
Inflation will continue to decline, says Şimşek
Inflation is high but is moving in line with the economic program, Treasury and Finance Minister Mehmet Şimşek has said, adding that under the current expectations, the decline in inflation will continue.
- Read more about Inflation will continue to decline, says Şimşek
- Log in to post comments
Turkish stock exchange hopeful of 2024
In 2023, the BIST100 index remained below the performance of 2022 and inflation, but there is a premium of about 35 percent. The policy based on high-interest rates, which changed with the new economic management after the elections, mobilized alternative markets. Interest rates, foreign exchange and gold protected investors relatively from inflation compared to the stock market.
- Read more about Turkish stock exchange hopeful of 2024
- Log in to post comments
Şimşek: Inflation will decrease in 2024
Treasury and Finance Minister Mehmet Şimşek has said in a New Year's message that the positive results of the government's economic program will be achieved in 2024.
- Read more about Şimşek: Inflation will decrease in 2024
- Log in to post comments