Erkan
Turkish central bank keeps its key interest rate unchanged, pausing a series of hikes
Turkey's central bank left its key interest rate unchanged at 45% on Thursday, pausing a series of aggressive rate hikes aimed at taming high inflation.
The central bank said it was keeping the benchmark one-week repo rate on hold, according to a statement. It was the bank's first interest rate decision under its newly appointed governor, Fatih Karahan.
Eyes will be on new Central Bank chief, inflation report
Eyes will be on Fatih Karahan, who took the helm of the Turkish Central Bank last week, as he is set to present the banks' first quarterly inflation report of 2024 on Feb. 8.
Economic policy to continue as Central Bank's new head takes helm: Top officials
Fatih Karahan, a former senior economist at the U.S. online retail giant Amazon, was appointed as the new head of Türkiye's Central Bank to replace Hafize Gaye Erkan on Saturday, according to the Official Gazette.
Fatih Karahan's appointment follows the resignation of Erkan after less than a year in office.
Turkish Central Bank governor Erkan resigns
Türkiye's central bank chief Hafize Gaye Erkan said on Feb. 2 that she was resigning after less than a year on the job.
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Erdogan decries ‘rumors’ after news article about cenbank chief
Turkish President Tayyip Erdogan decried on Wednesday efforts to spread "rumors" meant to undermine economic progress, in an apparent endorsement of Central Bank Governor Hafize Gaye Erkan, who had criticized a recent press report about her family.
Şimşek, Erkan to meet investors in New York
Finance Minister Mehmet Şimşek and Central Bank Governor Hafize Gaye Erkan will travel to New York next month to meet with investors.
As part of the "Investor Day" event to be held on Jan. 11, Erkan will make a presentation to foreign investors on monetary policy and inflation, according to the invitation the Central Bank sent to investors.
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No Central Bank intervention in FX market, says Erkan
The Central Bank is not intervening in the foreign exchange market, Governor Hafize Gaye Erkan has said, pointing out that the increase in reserves is an indication of this.
"If there had been interventions in the U.S. dollar [in the FX market], reserves would have not increased that much," Erkan said in an interview with daily Hürriyet.
Şimşek meets with investors in Spain
Treasury and Finance Minister Mehmet Şimşek has held a meeting in Spain with representatives of Spanish companies and the finance industry.
"Our international investor meetings continue in Spain," Şimşek wrote on the social media platform X, formerly Twitter.
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Underlying inflation trend started to decline: Central Bank
The underlying trend of inflation has started to decline, and the inflation will decrease in the second half of 2024 after reaching its peak, Central Bank Governor Hafize Gaye Erkan has said.
Central Bank implementing its roadmap with gradual steps: Erkan
Türkiye's Central Bank is implementing its roadmap designed to lower inflation with gradual and decisive steps, Hafize Gaye Erkan, its governor has said.
Since Erkan took the helm at the bank in June, the Central Bank has hiked its main policy rate, the one-week repo auction rate, by a cumulative 1,650 bps from 8.5 percent to 25 percent.