Turkey
Turkey holds rates but raises reserve ratios
Move appears to be attempt to stem fall in currency despite president’s opposition to rate hikes
Covid-19 policy-making and the need for high-speed data
High-frequency data holds the promise of speed and adaptability, but the rush to find alternative economic indicators has the potential to create problems
Turkish central bank issues brief statement as lira hits record low
Lira hits lowest-ever level against dollar and euro as central bank’s response remains unclear
Turkish central bank cuts rates again
CBRT makes ninth consecutive cut since July 2019 but analyst warns strategy is “unsustainable”
Qatar bolsters Turkey’s shrinking reserves
Agreement sees Qatar add $10 billion to Turkey’s reserves via swap agreement
CBRT battles external imbalance with dwindling reserves
Turkish central bank loses battle to keep lira under 7 as reserves shrink, but pressures may be easing
Turkey continues easing cycle with 100bp cut
Policy-makers see oil shock creating room for stronger easing
Turkish central bank unveils emergency measures
Turkish central bank official makes optimistic prediction despite evidence of mounting problems
Turkish central bank keeps cutting rates despite higher inflation
Cut brings Turkish real rates into negative territory as currency renews slide against dollar
Turkish central bank makes fourth rate cut in six months
Central bank has reduced rates by 850 basis points since president dismissed last governor
CBRT to hand over profit and reserves to government
Law change permits government to dip into central bank’s reserves
Turkish central bank slashes rates for fourth time straight
Move was larger than many had expected, and comes as inflation re-enters double digits
Turkish central bank faces sluggish economy and political pressure
Updated policy framework includes major increase in MPC meetings, but few other changes
Turkish president calls for further rate cuts
President Erdogan dismissed previous central bank governor in March over failure to cut policy rates
Turkey and Russia continue expanding gold reserves
Central banks purchased 156 tonnes in third quarter of year, 38% less than a year earlier, WGC figures show
Turkish central bank supplies lire through stock exchange
Governor acknowledges unconventional short-term liquidity provision, as traditional repo operations come to a halt
CBRT slashes rates again as inflation enters single digits
Central bank makes further sizeable cut as inflation hits lowest level for over two years
Turkish central bank steps up efforts to increase bank lending
CBRT makes second move to use reserve levels to sharply increase credit growth
Turkey launches second major rate cut
Central bank slashes further 325 basis points off main rate
People: Banque de France deputy nominated to EU Commission
Turkey fills two vacant deputy posts; Fed appoints head for new FedNow payments service; Iceland looks for director of financial stability replacement; FSB appoints Norman Chan’s replacement
Erdoğan sidelines senior central bank officials
Move follows dismissal of governor Murat Çetinkaya in July
Turkey increases reserve requirements on forex deposits
Authorities aim to discourage citizens from transferring their assets into other currencies, weakening the lira
Turkish government may shift central bank to Istanbul
No official response to reports that finance ministry and central bank will move in next two years
Turkish central bank makes largest-ever rate cut
Unprecedented 425bp cut will raise independence fears following governor’s dismissal