Central bank

Eurostat's inflation divs for both the Eurozone and Greece have set new records causing a veritable shock around the continent.

In particular, inflation in the eurozone was 8.6% in June from 8.1% in May, according to the preliminary data published today by the official statistical authority of the European Union.

The picture in Greece

Finding the right monetary policy response to tackle soaring inflation is an "art," European Central Bank President Christine Lagarde has said.

"It is not a science," Lagarde said on June 29 at a panel at the ECB's annual central banking conference in Portugal.
"What we are doing there is an element of art," she said.

Türkiye's banking watchdog has announced the details of commercial loans decision revealed on June 24, while emphasizing that the decision is a measure taken to strengthen financial stability, use resources more efficiently and productively, and ensure that the credit system works effectively.

That policy also envisaged that goods and services produced in the country would become cheaper abroad because of the fall in wages. China entered its development process with a similar policy.

Turkey's Treasury and Finance Ministry said on June 10 the fight against inflation remained the top priority in its macroeconomic policy, with fiscal discipline never to be compromised.

Germany and Spain on May 30 reported another jump in inflation in May as the war in Ukraine continued to push up food and energy prices, heaping pressure on the European Central Bank to speed up interest rate rises.

The Turkish Central Bank revised its reserve requirements regulation on April 23 in a move to strengthen the macroprudential policy toolkit.

Reserve requirements, which used to only be applied to the liability side of balance sheets, will now be applied to asset sides as well, the bank said in a statement.

Turkey aims to attract nearly 5,000 tons of under-the-mattress gold into the financial system, Treasury and Finance Minister Nureddin Nebati said at a press conference in London on Feb. 8.

The Turkish Central Bank on Jan. 27 revised its year end inflation forecast upwards for both 2022 and 2023 while keeping its medium-term target at 5 percent.

The Central Bank of Turkey has announced that it will hold an extraordinary general meeting on Feb. 3.

The advance payment of from the bank's 2021 profits to the shareholders and the distribution of reserve funds will be discussed at the meeting next month. The Treasury owns almost all shares o the Central Bank.