Turkey
Turkey makes surprise rate cut
The Central Bank of the Republic of Turkey unexpectedly decided to lower interest rates by 25 basis points on Thursday.
Turkey holds rates
The Central Bank of the Republic of Turkey decided to keep its short-term interest rates unchanged on Tuesday.
Turkish central bank urges spending reduction
The governor of Turkey's central bank, Durmus Yilmaz, said that the bank had found "gaps" in the country's budget forecasts during the recent election campaign, and urged the government to cut its spending.
Turkey's reserves hit record high
The Turkish central bank announced on Thursday that its foreign currency reserves had reached a new record level of $118bn on July 6.
Balkan central banks agree on regulation framework
The central banks of six Balkan countries and Cyprus on Friday have agreed on a framework of regional cooperation to improve banking supervision, streamline operations and help fight money laundering and the financing of terrorism.
Turkey's payment systems
The Bank for International Settlements (BIS) published a report on payments systems in Turkey on 3 July.
IMF: Turkish CB independence essential for IT
The independence of Turkey's central bank is essential for the success of inflation targeting, the IMF said in its 2007 article 4 report.
Inflation expectations contained - Turkey's Yilmaz
Speaking at a conference celebrating the 75th anniversary of the Central Bank of the Republic of Turkey, governor Durmus Yilmaz said the central "strong reaction" to financial turmoil in 2006 "have contained inflation expectations" and that these will …
Turkish CB identifies financial stability concerns
The Central Bank of Turkey believes that the way in which the country weathered the storm following the financial turmoil the country experienced in June and July last, demonstrates the resilience of the Turkish economy.
Turkey's Yilmaz issues inflation warning
Inflation is expected to exceed the 4% target set by the government for the end of the year, Durmus Yilmaz, the governor of the Central Bank of the Republic of Turkey, has told the country's cabinet.
Yilmaz on the economic outlook for Turkey
In the speech 'Economic outlook for Turkey' given on 11 January (published 23 March) Durmus Yilmaz of the Central Bank of the Republic of Turkey said as a result of the process of structural change and the progress obtained in macroeconomic conditions in…
IMF's Rato on the Japanese economy
In a speech given on 26 February Rodrigo de Rato of the IMF said warned policymakers and investors about increasing growth in yen carry trades and urged Japan to make clear that deflationary pressures are being rooted out.
Yilmaz on Turkey's monetary & exchange rate policy
In the speech 'Turkey's monetary and exchange rate policy for 2007' given on 13 December Durmus Yilmaz of the Central Bank of Turkey said the central bank deems the stability and development of financial markets as a supporting objective for the…
Inflation targeting fails in first yr in Turkey
According to this article published by the Turkish Daily News on Saturday 6 January, Turkey's long-awaited "inflation targeting" has failed in its first year, and there is a big chance it will be unsuccessful in 2007.
Paper on central bank interventions
The December 2006 Working Paper "Central bank interventions, communication and interest rate policy in emerging European economies" analyses the effectiveness of foreign exchange interventions in Croatia, the Czech Republic, Hungary, Romania, Slovakia…
Israel's Fischer on dollarization
In the speech 'Dollarization' given on 15 December Stanley Fischer of the Bank of Israel asks if dollarization, including full dollarization, should be avoided, why join EMU?
Turkey's Yilmaz on dollarization
In the speech 'Dollarization - consequences and policy options' given on 14 December Durmus Yilmaz of the Central Bank of Turkey said it is apparent that the level of dollarization in Turkey is still high, which is an important challenge for monetary…
Turkey's Yilmaz: Economic crisis out of question
"The current account deficit which has been rising due to high economic growth should be monitored closely," Turkish central bank Governor Durmus Yilmaz has indicated at a news conference Monday 4 December.
Turkish rates stable despite high inflation
The Turkish central bank announced on 23 November that it will keep its policy rate unchanged at 17.5% and the lending rate at 22.5% after its penultimate monetary policy committee meeting for 2006.
Turkey's Yilmaz says price stability not ensured
In a speech to industrialists Turkey's central bank chief, Durmus Yilmaz, said inflation rates have turned out to be below expectations in October and created an optimistic mood, but cautioned it is not time yet for festivities.
Turkey's Yilmaz says inflation target not changing
Durmus Yilmaz, head of the Central Bank of Turkey, told a press conference at the presentation of its 2006 inflation report Tuesday 31 October that changes to Turkey's inflation target could hurt the credibility of the central bank.
Turkey's Yilmaz on necessity of stable prices
"Nothing is possible without price stability. If price stability is settled, economic growth and employment will be assured," Central Bank of Turkey president Durmus Yilmaz told reporters after a meeting he attended in Ankara Chamber of Industry (ASO) on…
Yilmaz on central banking in emerging economies
In the speech 'Central banking in emerging economies - the Turkish experience' given on 12 September Durmus Yilmaz of the Central Bank of the Republic of Turkey said a challenge of central banks in some emerging economies is dollarization.
IMF members approve voting reform plan
The 184-nation International Monetary Fund on Monday 18 September approved reforms to increase the voting shares of emerging economies, the German finance minister was quoted by Associated Press as saying.