turkey’s Archives - Global Banking Monitor

Turkey’s Central Bank Implements Steep Interest Rate Hike to 40%

Turkey's central bank has raised its main interest rate to 40% as part of a concerted campaign to tackle soaring inflation in the country. The...

Turkey’s Central Bank Projects Inflation to Reach 58% — Double Previous Estimate

Turkey’s central bank expects inflation to hit 58% by the end of 2023, its new governor Hafize Gaye Erkan said in her debut news...

Turkey’s New Central Bank Governor Faces Public Debut Amidst Misgivings

Turkey’s newly-installed central bank Governor Hafize Gaye Erkan will step into the spotlight for the first time on Thursday when she unveils fresh inflation...

Turkey’s Central Bank Lifts Interest Rate to 17.5%, Falling Short of Market Expectations

Turkey’s central bank on Thursday hiked its key interest rate by 250 basis points to 17.5%, coming in below analyst forecasts of 500 basis...

Central Bank Survey Indicates Potential Doubling of Turkey’s Policy Rate

Expectations of a sizable hike in Turkey’s benchmark rate in this month’s policy meeting are gaining traction, fueled by the appointment of investor-friendly names...

Goldman Sachs Suggests “Fully Orthodox” Policy Maker Might Increase Turkey’s Rates to 40%

Goldman Sachs said on Friday the appointments of Mehmet Simsek as Turkish finance minister and Hafize Gaye Erkan as central bank governor suggested a...

Turkey’s Lira Hits New All-Time Low Following Erdogan’s Re-election

The Turkish lira sank to a fresh record low Monday as incumbent Recep Tayyip Erdogan secured his victory in the 2023 presidential election, extending...

Turkey’s January Current Account Deficit Hits All-Time High

Turkey's current account deficit widened to $9.85 billion in January, data from the central bank showed on Monday, the highest level in four decades...

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