Turkey
Taking a cue from the top: governor turnover and independence
Central bank governors tend to have long tenures, but what that means can vary. High turnover remains a worrisome signal
Turkish central bank shocks with 100bp rate cut
Rogoff describes move as “nuts”, as official inflation neared 80% in July
Turkish business chief criticises central bank as lira falls further
Governor says central bank is working to make Turkish firms use more lira-denominated assets
Turkish central bank holds rates despite 70% inflation
Turkish lira reaches record low as central bank promises inflation will fall to 5%
Turkish central bank tightens reserve regime for lenders
Central bank will also penalise lenders with high levels of foreign-denominated accounts
Turkey holds rates again despite soaring inflation
MPC says that it aims to carry out “liraisation” of monetary policy as inflation reaches 54%
Turkish central bank holds main rate despite high inflation
Committee says it expects inflation trend to reverse soon, as headline figure nears 50%
Staff suing Turkish central bank over Istanbul move, says report
Media says staff have been told to move to “uncompleted” headquarters in June
Turkish government fires statistics head as inflation climbs rapidly
Finance minister meets London investors after official inflation hits highest level since 2002
Picking up the pieces: how to tackle the next phase of the Covid crisis
The global economy is heading into dangerous territory, writes Jagjit Chadha. Central banks must honour their commitments to price stability
Turkish MPC holds rates after sharp inflation rise
Central bank announces $5 billion UAE swaps deal as Erdoğan seeks currency from Turkish allies
Turkish central bank announces $10 billion one-day profit
Move follows president’s pledge on dollar deposits amid evidence of worsening economic crisis
2021: The year in review
The year has seen central banks switch from recovery mode to battling inflation. Central Banking looks back at the stories that made the biggest impact in 2021
Turkey’s Dornbusch moment
Turkey’s new deposit scheme sets the stage for hyperinflation, writes Barry Eichengreen
Turkish lira rises as central bank launches ‘incentive’ scheme
Selling pressure eases as new facility unveiled, but outlook remains uncertain
Turkey’s currency hits new low after further rate cut
CBRT says it is intervening on foreign exchange markets as Erdoğan raises minimum wage
Tackling surging inflation
Central banks around the world are grappling with rapid price rises, with some taking very different routes to one another
How Turkey’s president created chaos in economic policy-making
Observers allege presidential domination of the central bank, unauthorised FX transactions and untrustworthy statistics
Turkish currency hits new low as central bank cuts rates again
Move follows Erdoğan’s dismissal of two deputy governors and one MPC member
Turkish central bank cuts rates again as currency falls
Lira hits new low days after president dismissed senior officials
Turkish president fires deputy governors
Move appears to be Erdoğan’s latest bid to impose low interest rates despite rising inflation
Crypto asset transactions hit ‘macro critical levels’ – IMF GFSR
Crypto valuations “already systemic” in “many countries”, international rules "probably some time away", says IMF’s Adrian
Turkey cuts rates despite rising inflation
Central bank move comes after months of public pressure from Turkish president Erdoğan
Turkey raises banks’ gold and FX reserve levels
Central bank announces work with state-owned organisations on prototype CBDC