Please submit your e-mail address to get the latest news

Turkey s Central Bank cuts overnight lending rate
  24.07.2016


Turkey´s new central bank governor Murat Cetinkaya speaks during a brief ceremony at which he officially took over from outgoing governor Erdem Basci in Ankara, Turkey, April 19, 2016.



 


Under new leadership the Turkish Central Bank on Wednesday cut its overnight lending rate by 50 base points, following a 25-basis point cut last month, while leaving other key rates on hold.

The one-week repo rate, which is the rate at which banks borrow from the Central Bank for one-week terms, was kept at 7.5 percent, the bank announced, in the first such move under its new governor, Murat Cetinkaya.

The overnight lending rate, which is the rate at which banks borrow from the Central Bank overnight, was cut 50 base points to 10 percent. The overnight borrowing rate, however, under which banks lend or deposit money to the Central Bank, remained unchanged at 7.25 percent.

"Recently, inflation showed a marked decline, mainly due to unprocessed food prices. This decline is expected to continue in the short run. However, improvement in the underlying core inflation trend remains limited, necessitating the maintenance of a tight liquidity stance," the statement said.

The annual rate of inflation in Turkey fell to 7.46 percent in March from 8.78 in February due to a sharp drop in food prices, according to Turkish Statistical Institute data.

However, the bank cautioned, "Future monetary policy decisions will be conditional on the inflation outlook. Taking into account inflation expectations, pricing behavior, and the course of other factors affecting inflation, the tight monetary policy stance will be maintained."

Interest rates have been a topic of heated controversy between the government and the Central Bank since early 2014, when then-Prime Minister Recep Tayyip Erdogan, currently president, criticised the bank for keeping interest rates high.

Government officials as well as Erdogan saw the high rates as a factor holding back economic growth, which needs to be over 4 percent in order to address rising unemployment.

But under the helm of Governor Erdem Basci, who officially ended his five-year term yesterday, the CB refused to cut rates as fast as Erdogan and many government officials wanted, repeatedly linking further rate cuts to improvement in the inflation outlook.

  
  

Source :
Hit : 282


Turkish economy grows 4 percent in 2015
Turkey s new central bank chief signals simpler policy
Turkish inflation drops to 3 year low
Turkey s Central Bank cuts overnight lending rate
The 3rd edition of the XPRIMM Turkey Insurance Profile launched at the 7th International Istanbul Insurance Conference
Insurance contract may be made electronically
Agencies will not use insurance on their name
Fitch has announced Turkish insurance industry report
Turkey s Halkbank pension and insurance sale, sources say
Turkey launches new health data system
Turkey: Achieving a transition to a new economy
New Milan expo displays best of Turkish culture
Turkey s insurance sector strengthens as investor confidence grows
Turkeys insurance sector posts 6.4 pct growth
Turkish Halk insurance units privatisation tender details unveiled
Turkey´s economic star continues to shine
Turkey more than doubles exports in last decade
Ministry of Health offers services in six languages
Foreign investment in Turkey worth $10b in 2014
Incentives to boost birth rate to cost Turkey $400 mln
Fitch upgrades Turkey s growth forecasts
Turkish tourism yield on rise
Turkey seen as a new frontier for Islamic insurance
Turkey: Several candidates to acquire Halkbank´s pension and insurance arms

 

Medasist International abides and complies fully with all ethic rules as well as legislation, laws related with all rights of usage. All information, news, research texts and videos included in this and all portals of Medasist International with referencing the source thereof are comprised of information provided by its source and if any, its author or any person reporting such relevant news with the consideration of that no copyright is to be applied or the relevant content has lost its such nature because it has lost its urgent news nature even though it is a news content that is believed to be fully reliable, and open to public and known as to be shared by the whole community. All written and audio contents published on Medasist International platforms by referring the source thereof belong to such relevant source, and in case such contents are copied by third parties, all responsibility rests on the person or body that makes copying. In cases arising from misuse of all contents and videos and from misinformation, according to written requests proven to be valid from the news source or those people or bodies whose names are mentioned in such news may, all contents and videos be replaced duly or taken off from the broadcasting totally. Medasist International respects to all ethical right of usage. Information included in Medasist International Platforms is not in the scope of investment consultancy.Regarding mistakes, deficiencies and usage for investment purposes on and of all information comprised of any news, researches, written and audio contents quoted with references, Medasist International World Platform, www.medasist.com portal managers has no responsibility and bind.

Medasist International tüm kullanım hakları ile ilgili yasalara, kanunlara ve bunlarla birlikte tüm etik kurallara tamamen uymakta ve saygılıdır.Medasist International’a ait bu ve tüm portallarda kaynak gösterilerek yer alan tüm bilgi, haber, araştırma içerikli yazı ile videolar tamamen güvenilir,olduğuna inanılan, halka açık olduğu ve tüm toplumun paylaştığı bilinen bir haber içeriği olmasıyla birlikte acil haber özelliğini kaybederek telif hakkı kullanım özelliği olmayan yada ilgili içeriğin bu özelliğini kaybetmiş olduğu düşüncesiyle ,kaynağı ve varsa yazarı yada ilgili haberi düzenleyen kişinin belirtildiği bilgilerden oluşmaktadır.Medasist International platformlarında kaynak gösterilerek yayınlanan tüm yazılı ve görsel içerikler ilgili kaynağa aittir,bu içeriklerin başkaları tarafından kopyalanması durumunda tüm sorumluluk kopyalayan kişi yada kuruma ait olacaktır. Tüm içerik ve videolarla ilgili hatalı kullanım, hatalı bilgiden kaynaklanan sorunlarda haber kaynağı yada ilgili haberde geçen kişi yada kurumlardan gelen geçerliliği kanıtlanmış yazılı talepler doğrultusunda tüm içerik ve videolar gerektiği şekilde değiştirilebilir yada yayından tamamen kaldırılabilir.Medasist international tüm etik kullanım haklarına saygı göstermektedir.Medasist International Platformlarında yer alan bilgiler yatırım danışmanlığı kapsamında değildir.Tüm kaynak belirtilerek alınan haberler,araştırmalar,yazılı ve görsel tüm içeriklerden oluşabilecek bilgilerin hataları,eksikleri ve yatırım amaçlı kullanılmasıyla ilgili Medasist International World Platformu, www.medasist.com portalı yöneticilerinin hiçbir sorumluluğu ve bağlayıcılığı bulunmamaktadır.

Health Tourism - Plasticsurgery - Breastagumentation - Lipo - Liposuction - Breastimplants Turkey - Community Health - Cosmetic Surgery of Turkey - Health Tourism Turkey - Medical Tourism Turkey
Medasist International © Copyright 2005
Sercan Vekiloğlu