Turkey
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
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 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
Capital lured to EMs by interest rate differentials, CBRT paper finds
Inflation and global liquidity other important drivers of international capital flows post-crisis, but countries' growth rates have less effect
Central Bank of Turkey tells lenders to drop all euros from reserve holdings
Only dollars will be allowed as a substitute for liras in required reserves, central bank announces; lenders forced to sell €12.7 billion
Turkey central bank announces research award winners
Emrah Şener awarded $7,000 for 'The Geography of Risk Capital'; annual awards granted to support research on 'Turkish economy, emerging market economies and/or central banking'
Turkish central bank in broad social media push
Bank joined four social network platforms this week in bid to raise public's financial awareness; also says it will aim to foster ‘habit of saving and encouraging the use of' lira coins
Central Bank of Turkey cuts main rate as MPC sees inflation in decline
Bank lowers one-week repo rate by 75bp to 8.75%, its second consecutive rate cut, but says it is maintaining a ‘tight policy stance'
Turkey's central bank board removes five executives
The bank has yet to comment publicly on the reshuffle, which a spokesperson says is not a matter of public concern
Monetary policy stance will 'continue to be tight', says Turkish central bank
Central Bank of the Republic of Turkey, which lowered interest rates last week, says slowdown in consumer loans and weak private demand is expected to keep lid on inflation
Turkish rate cut baffles markets as inflation heads for double figures
Turkey's central bank cut rates today despite inflation of almost double the target level; deputy governor tells CentralBanking.com the focus must return to price stability
Turkey's central bank overhauls strategic plan following turmoil earlier this year
The bank outlines new strategic plan for 2014–18 in view of ‘changed external and economic conditions'; replaces 2011 plan that was scheduled to expire next year
Turkey's Başçı reiterates rate cut is unlikely
Central Bank of Republic of Turkey governor Erdem Başçı says lower interest rates unlikely following PMs call for a cut on Friday
Turkish PM calls on central bank to cut rates
Turkey's prime minister Recep Tayyip Erdogan calls on central bank to ‘convene extraordinary meeting' to cut interest rates day after governor sends ‘hawkish' signals in London
Turkish central bank award aims to promote research in central banking
Turkey award follows the Carl Menger Prize for Research launched by the Bundesbank, the National Bank of Austria and the Swiss National Bank in January
Unorthodox monetary tools worked for Turkey, central bank research shows
The introduction of asymmetric interest rate corridor and ‘reserve option mechanism' has helped mitigate the impact of hot money flows, according to February papers