Central Bank
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Central Bank lifts 2022 inflation forecast to 42.8 pct
Turkey's Central Bank has lifted its annual consumer price inflation forecast for 2022 from 23.2 percent three months ago to 42.8 percent.
The bank, which unveiled its quarterly inflation report yesterday, said it also revised upwards its end-2023 forecast from a previous 8.2 percent to 23.2 percent. It expects the annual inflation rate to ease to 8.3 percent at the end of 2024.
Tümen appointed deputy Central Bank governor
Professor Semih Tümen has been appointed deputy governor of Turkey's Central Bank, replacing Oğuzhan Erbaş.
The presidential decree regarding the appointment was published in the Official Gazette. There are four deputy governors at the country's Central Bank.
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Consumer confidence index improves in March
Consumers' confidence in the country's economy improved this month despite coronavirus fears, the Turkish Statistical Institute (TÜİK) said on March 23.
The consumer confidence index increased by 1.7 percent month-on-month in March, TÜİK data revealed.
Last month, the figure was 57.3.
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If the Central Bank was to make its interest decision according to core inflation
There was an expectation of a 0.5 percent rise in consumer prices; instead, a drop of 0.04 percent was registered. As it is unusual to see a drop in prices in the month of March, this was an important surprise for the markets.
Turkish Central Bank sells $10.5 billion to national gas grid in 2015
Turkey's Central Bank sold around $10.5 billion in currency to the national gas grid BOTA? in 2015 to prevent any further hikes in the dollar's value, according to the lender's head.
Central Bank Gov. Erdem Ba?ç? gave the detailed figures during a presentation to the cabinet late Jan. 4.
GERB's Menda Stoyanova Calls For Responsibility From Central Bank Chiefs
GERB MP Menda Stoyanova, chair of the parliamentary budget committee, urged the managerial board of Bulgaria's Central Bank (BNB) to assume the moral responsibility for the problems of Corporate Commercial Bank (KTB).
Five executives replaced at Turkey's Central Bank
Turkey's Central Bank has replaced five executives on June 11, following Prime Minister Recep Tayyip ErdoÄan's increasingly stronger criticism of Governor Erdem BaÅçı's strategy amid a wave of reshuffles at various segments of bureaucracy.
The Central Bank Assembly has removed two director-generals, one deputy director-general and two directors in its meeting in the afternoon.
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Turkish PM Erdoğan criticizes Central Bank over interest rates
Turkish Prime Minister Tayyip ErdoÄan, who has criticized the Central Bank for not cutting interest rates enough, said he did not accept Governor Erdem BaÅçı's approach on rates and hoped the bank would act immediately to resolve the issue.