Central bank

The Turkish Central Bank's reserves amounted to $95.3 billion at the end of February, the bank announced on March 26. 

Total reserve assets posted a slight monthly decline of 0.4%, according to the bank's international reserves and foreign currency liquidity report.

Foreign currency reserves-in convertible foreign currencies- totaled $53 billion, up 2.1% on a monthly basis.

The Turkish Central Bank's newly appointed governor met on March 24 with the general managers of banks and discussed a range of issues including inflation, monetary policy, global developments and the demands of the banking sector.

Turkey has adequate foreign exchange reserves to keep its financials healthy despite temporary volatility in the value of Turkish Lira and stocks after the Central Bank chief was replaced at the weekend, one of the senior presidential advisers said on March 23.

The Central Bank of the Republic of Turkey (CBRT) will continue to use monetary policy tools effectively to achieve a permanent decline in inflation, its new governor said on March 21.

Ljubljana – The Slovenian central bank held a virtual debate on Thursday which heard that, although payments in the eurozone are still mostly done in cash, the increasing digitalisation forces banks to consider introducing the digital euro.

Turkey's central bank on March 18 hiked its main interest rate by a higher-than-expected 200 basis points to 19 percent to counter rising inflation and the dropping value of the lira.

The bank said it "has decided to implement a front-loaded and strong additional monetary tightening" after seeing the annual inflation rate climb to 15.6 percent last month.

The Turkish Central Bank is focusing on ensuring permanent price stability while implementing a steady monetary policy, the bank's Governor Naci Ağbal said on March 5. 

"We will continue to take firm steps towards achieving price stability through a confidence-oriented monetary policy in the upcoming period," Ağbal wrote on the bank's blog.

Central banks around the world should not discard negative interest rates policies (NIRP) but instead keep them in their toolkit, even if using such policies is unlikely, the IMF suggested on March 3. 

"NIRP was and remains politically controversial, partly because it is often misunderstood," the global financial body stressed in a new report.

Ljubljana – Business chambers have called on the government to extent the scheme under which they may request a deferral of loan payments, an appeal that came just after the central bank said this measure had “served its purpose” and was not sustainable in the long term.

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