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.

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.

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.

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.

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.

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