Turkish Central Bank

Turkey's annual inflation rate is projected to rise to 15.45% in February, an Anadolu Agency survey found on Feb. 26. 

Turkey's annual inflation rate in January was 14.97%, up 0.37 percentage points from the previous month.

The Turkish Statistical Institute will announce February's consumer prices index on March 3 Wednesday.

The Turkish Central Bank's reserves amounted to $95.7 billion at the end of January 2020, the bank announced on Feb. 26. 

Fitch Ratings revised on Feb. 19 Turkey's outlook to stable from negative, and affirmed its credit rating at 'BB-'. 

"Monetary policy has been significantly tightened, international reserves have stabilized and the Turkish lira has appreciated by 18% against the US dollar since early November," the global rating agency said in its statement.

The Turkish Central Bank on Feb. 18 kept the policy rate unchanged at 17 percent, in line with market expectations.

The Turkish Central Bank on Feb. 18 kept the policy rate stable in line with market expectations.

The bank's policy rate - also known as the one-week repo rate - stands at 17 percent, the bank said in a statement, noting that additional monetary tightening would be delivered if needed.

Amid pressure from the coronavirus pandemic, Turkey ran a current account deficit of $36.7 billion in 2020, the Turkish Central Bank announced on Feb. 12. 

The figure widened from a surplus of nearly $6.76 billion the previous year (with revisions), the bank said.

With the stabilization of capital inflows and reversal of dollarization trend in deposit/participation funds, the Turkish Central Bank will increase its reserves through auctions, the governor said on Feb. 9. 

"When the conditions are mature enough, we will share our plan for this with the public in an open and transparent manner," Naci Ağbal told a meeting with economists.

Turkish Central Bank Gov. Naci Ağbal said the economy has lost some pace recently but signs that Turks are shifting toward lira assets suggests a reversal in dollarization may come.

"We are working day and night to achieve lasting price stability," Ağbal told Reuters in an interview.

"We know we are in a difficult period."

The Turkish Central Bank has decided to establish three new divisions in a bid to adapt its organizational structure to its priorities, according to a statement issued by officials on Feb. 4. 

Under its Structural Economic Research Department, the bank will form a division in charge of analyzing developments in the food and agricultural product markets.

Turkey's external assets amounted to $228.6 billion at November end, down 9.7 percent from 2019, the Turkish Central Bank announced on Jan. 18.

The country's liabilities against non-residents during the same period rose 2.6 percent to $614.5 billion.