Central bank

The European Central Bank (ECB) is not expected to take additional measures and could implement a "wait-and-see" policy amid the coronavirus crisis, according to economists.

Trumping the Odds?

The Central Bank of Turkey on April 22 reduced its one-week repo rate 100 basis points.

The bank's policy rate -- also known as the one-week repo rate -- fell to 8.75% from 9.75%.

The decision came in a statement from the bank's Monetary Policy Committee (MPC) meeting -- the fourth of twelve meetings scheduled for 2020.

European Central Bank President Christine Lagarde drew the line on how far the ECB could go in helping virus-stricken eurozone countries on Wednesday, saying lending to governments directly would be illegal and handing out cash to citizens difficult.

The Turkish Central Bank is forecast to cut its interest rates for the 10th month in a row, according to a panel of economists surveyed by Anadolu Agency on April 20. 

The fourth Monetary Policy Committee (MPC) meeting of the year will be held on April 22 to announce the bank's decision on interest rates.

Turkey is holding talks with central banks about swap agreements, the Turkish Central Bank (TCMB) Governor Murat Uysal said on April 19, as Ankara introduces measures to tackle the economic impact of the coronavirus pandemic.

The European Central Bank took more emergency action Tuesday to keep credit flowing to companies in the 19 countries that use the euro by easing its rules for lending to banks that serve those businesses.

Bank of Greece Governor Yannis Stournaras on Wednesday spoke openly on Bloomberg in favor of a so-called "corona bond," warning that unless joint fiscal action is taken Europe will face a new debt crisis.

The Central Bank of Turkey (CBRT) on March 31 introduced new measures to limit the economic fallout from the novel coronavirus pandemic.

The steps aimed to back monetary transmission mechanisms, banks' flexibility in liquidity management, uninterrupted credit flows to the corporate sector, and firms exporting goods and services.

The Turkish Central Bank's official reserves stood at $107.7 billion as of the end of February, the bank announced on March 27.

The February figures showed total reserve assets increased 5.1 percent from the previous month.