Turkish Central Bank

The Turkish Central Bank has raised its 2015 year-end inflation rate estimate to 6.8 percent from 5.5 percent amid renewed discussions about the nature of the recent hike in consumer prices.
 
However, the Bank still sees a fall in the rate next year. 

The decline in inflation will become more pronounced during the second half of the year after a partial correction in food prices, Turkish Central Bank Governor Erdem Ba?ç? said on April 18, according to the Bank's website.

Turkey's embattled lira on April 15 tumbled to a new low in value against the dollar.
      
The lira broke above the psychologically important level of 2.7 to the dollar to trade at 2.703 to one dollar, a loss in value of 0.57 percent on the day.
      

Turkey?s current account gap stood wider than expected at $3.2 billion in February, the Turkish Central Bank said on April 10.

The Turkish Central Bank?s cautious monetary policies along with prudent fiscal and macro-prudential policies are having a favorable impact on inflation, Central Bank Governor Erdem Ba?ç? said in a presentation on April 6.

International Credit Rating Agency Fitch did not change Turkey?s outlook in its recent evaluation of the country, which resulted in comforting the markets slightly. Many people were not expecting Fitch to lower the ratings with elections approaching, but looking at the positive reaction of the markets, we concluded that ?it means some uneasiness did exist.?

The Turkish Central Bank said on March 9 it was cutting its one-week forex deposit interest rates, triggering gains in the lira after a week of sharp declines driven partly by worries over political pressure on the bank.

Prime Minister Ahmet Davuto?lu has held meetings with the chiefs of key monetary and financial institutions, including the Central Bank governor, shortly after returning from New York where he had sought to assure investors spooked by President Recep Tayyip Erdo?an?s recent tirades against the Central Bank.

Economy Minister Nihat Zeybekci has signaled a potential change in the law on the Turkish Central Bank, which has recently been harshly criticized due to its rate policies by several leading government figures. 

Turkish Central Bank Governor Erdem Ba?ç? sought to calm jittery investors on Feb. 27, dismissing rumors that he would resign and giving a brief lift to the lira currency after it tumbled to a record low.