Central Bank of the Republic of Turkey (CBRT)
Turkey’s Kenç sheds light on central bank ‘roadmap’
Deputy governor tells Central Banking conference that a 'roadmap' of policy changes helps improve confidence in the economy; says the central bank has gained market trust despite independence fears
Turkish MPC eyes volatility as it prepares move to standardised framework
Decline in volatility will be key factor in move to a narrower interest rate corridor, minutes say; central bank expects disinflation in February after headline figure hit 9.6% in January
IMF staff tell Turkey to fix imbalances
Fund mission says central bank must tighten policy to head off growing external imbalances and inflation; low oil price keeping a lid on problems but longer-term solutions needed
Turkish inflation seen returning to 5% in 2018
Latest projections from the Central Bank of the Republic of Turkey suggest headline inflation will only return to target in 2018, after it overshot October forecasts, rising to 8.8%
Governor of the Year: Erdem Başçı
Erdem Başçı has guided the Turkish central bank through a turbulent period marked by policy spillovers from advanced economies, political interference at home and conflict in the Middle East
Turkey holds policy rates steady despite rising inflation
Turkey’s monetary policy committee voted to keep interest rates steady despite inflation continuing to rise further above its target level
Turkish inflation to drift toward target over next two years, report says
Turkey’s inflation rate will remain above the 5% target for much of the coming year, the latest quarterly report from the central bank says
Turkish economy is braced for impact of global policy normalisation, says Başçı
Erdem Başçı says measures taken to date have made Turkish economy more resilient to external shocks; expects inflation to trend down towards target next year after rough 2015
Turkish MPC has eyes on inflation and loan growth
The monetary policy committee of Turkey’s central bank notes year-on-year inflation fell due to drops in energy and food prices; cautious on currency depreciation and falling loan rates
Turkish paper finds Fed staff forecasts superior to rivals
Working paper finds forecasts in the ‘Greenbook’ were consistently more accurate than their commercial equivalents between 1974 and 2009
Turkish central bank may act as inflation forecasts rise
Declining exchange rates and rising food prices have pushed inflation expectations upwards, monetary policy committee says; governor says he will raise interest rates if necessary
Turkish paper explores productivity differentials
Countries caught in middle-income trap suffered lower productivity gains than others that had ‘graduated’ from it, finds research focused on period from 1950-2005
Turkish central bank eyes return to normality
Central bank plans to return to a simpler, more conventional monetary policy framework, but politics may yet get in the way
Turkey keeps rates level as lira hits dollar low
The Turkish central bank voted to keep its key policy rate unchanged despite a rapidly depreciating currency; under strong public pressure from Turkey’s president and his party
Turkish central bank acts as election prompts lira slump
Markets taken aback as president Recep Tayyip Erdoğan’s party falls short of majority; central bank measures fail to stop lira sliding to record low
Assessing the value of financial stability reports
More than 90 central banks now produce financial stability reports. Emrah Uslu and Eyup Kahveci look at the various approaches they take as well as appraising their usefulness.
Turkey intervenes in FX markets as lira slide continues
Central bank caught between shrill government rhetoric and jumpy markets, cutting FX deposit rates and launching liquidity operations in an attempt to halt the sliding lira
Israel and Turkey cut rates, hinting at further easing
Bank of Israel eases with one eye on the appreciating shekel; Turkey stands by its ‘cautious’ stance on interest rate cuts with 25bp reduction
Turkish MPC could face lawsuit
If convicted central bankers could face jail term over refusal to cut rates, but spokesman says central bank law protects policy-makers from prosecution relating to conduct of their duties
Turkey’s central bank expects to break letter-writing cycle
The Central Bank of the Republic of Turkey forecasts inflation falling back to target from mid-2015, sparing it a fourth letter to the government in the space of five years
Central bank says macro-pru tools ‘crucial’ in Turkey
With the threat of a ‘spillover from global uncertainty to inflation’ in 2015, the Central Bank of Turkey highlights the importance of macro-prudential defences
Central banks in SE Europe publish 19th century data
Institutions in Albania, Austria, Bulgaria, Greece, Romania, Serbia and Turkey team up to shed light on ‘statistical dark ages’ going back to the Ottoman Empire in 1830
Central Bank of Turkey quadruples amount of forex on offer in daily auctions
Lira's ‘heightened volatility' follows bank's decision yesterday to hold interest rates steady; pressure on forex the result of geopolitical risk, says analyst
EMs evaluate macro-prudential tools in BIS publication
Central bankers across Asia and Europe assess their countries’ efforts to mitigate spillovers from monetary policy in advanced economies in a major BIS publication