Turkish Central Bank

The Turkish Central Bank has announced it will increase the daily foreign exchange auction amount on Sept. 29 to $40 million, from a minimum of $10 million

Yesterday’s rate-setting meeting of the Turkish Central Bank was 'about nothing,' just like the 90s hit comedy show Seinfeld. To such an extent that I was able to write this column even before the meeting

Turkish lenders’ borrowing that jumped by almost threefold has been the main driver of the eye-catching rise in the country’s external debt, rating agency Fitch has said in a report, warning this puts the banks’ ratings at risk.

“Most of the recent increase in Turkey’s external debt has been driven by bank borrowing,” read a statement released by the agency on Aug. 3.

The Turkish Central Bank has kept its main policy interest rate the same, but trimmed its interest rate corridor’s upper band by 0.75 points, triggering a boost to the Turkish Lira.

Monetary tightening works aim to control inflation and reduce currency rates, Turkish Central Bank Governor Erdem Başçı said ahead of the unveiling of the Bank’s highly-anticipated inflation report on July 23, again defending his Bank’s policies against government criticism.

A weak lira and high interest rates made the Turkish economy grew on the heels of exports in the first half of the year, but rising political risks to foreign trade raise uncertainties for the second half With the first half of the year behind us, the climate for the Turkish economy is totally different from the first half of last year.

The Turkish Central Bank has cut its benchmark rate to 8.75 from 9.5 percent amid mounting pressure form the prime minister for lower interest rates that would support growth.

Central Bank Governor Erdem Başçı, speaking amid intense debates about political interference in the Bank, has insisted that the institution is taking its decisions “independently.”

The Turkish Central Bank topped the corporate tax champion list in 2013 by paying nearly 900 million Turkish Liras, figures released by the Revenue Administration have reported.

Turkish Central Bank Gov. Erdem Başçı gave no signals of an immediate rate cut during a critical and much-anticipated presentation in front of Turkish Prime Minister Recep Tayyip Erdoğan on June 2, but sought to draw an optimistic picture of the economy.

Erdoğan, a harsh critic of high rates, has been vigorously slamming the bank for “insufficient rate cuts.”