s Central Bank

Turkey?s Central Bank kept its interest rates on hold on Sept. 22, taking its cue from the U.S. Federal Reserve (Fed) which has kept rates steady, and ahead of a Nov.1 parliamentary election.

The bank kept its one-week repo rate at 7.5 percent and the overnight borrowing rate at 7.25 percent.

Is it the delay in the imminent policy decision by the Fed, America?s Central Bank? Or is it that in early 2016, Erdem Ba?ç?, the governor of the Central Bank of Turkey, will have ended his term? Which one is worse for the Turkish economy? Let?s weigh the potential impact of each.

The head of the Istanbul Chamber of Commerce (?TO), ?brahim Ça?lar, has said the private sector?s debts have increased by 17.5 billion Turkish Liras ($5.7 billion) over the year due to a dramatic loss in the lira?s value and called on Turkey?s Central Bank to sell the dollar at 2.7 to Turkish companies which have short-term debts. 

Turkey?s economic confidence index fell 1.9 percent month-on-month to 84.28 in August from a revised 85.87 in July, data from the Turkish Statistics Institute (TÜ?K) showed on Aug. 28.

Turkish economic confidence index increased by 1.5 percent to 80.1 percent in May, a second upward move after a plunge in March, according the data released by the Turkish Statistics Institute (TurkStat) on May 27. The index dived by 15.4 percent in March to 74.8 percent, the lowest level in its 15-month history.

Two sacks full of money belonging to Turkey?s Central Bank scattered across Istanbul?s Atatürk Airport ramp while being transferred to a plane en route to Zurich late on May 14. 

International lenders began talks in Cyprus on Monday to try to pave the way for a resumption of bailout payments after the island passed a law on foreclosure of bad loans.

Cyprus?s Central Bank said that technical banking teams from the European Union, the International Monetary Fund and the European Central Bank would be on the island until Thursday, and again from May 6.

Turkey?s economic confidence index fell by 15.4 percent in March due to decreases in a number of indices, according to data released by the Turkish Statistical Institute (TÜ?K) on March 30.

The economic confidence index fell by 15.4 to 74.85 in March, down from 88.50 in February.

Ankara has been seeking ways to calm the markets as the Turkish Lira has plunged to historic lows in recent weeks amid a potential U.S. interest rate hike pushing the dollar to multi-year highs and concerns about political pressure on Turkey?s Central Bank.

One the recurrent themes in contemporary Turkish politics is President Recep Tayyip Erdo?an?s uneasiness with Turkey?s Central Bank. In the past six months, Erdo?an has repeatedly called on the institution to lower interest rates, but the Central Bank has by and large resisted this political pressure.