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Reactions mount against another rate cut by Turkey’s central bank

Politicians, economists and social media users have criticized the Turkish Central Bank’s latest move to cut its policy rate by 100 basis points to...

$128 bln in missing forex reserves used to support Turks during pandemic: AKP MP

A deputy from the ruling Justice and Development Party (AKP) has claimed that $128 billion in forex reserves that were sold from the Turkish...

Turkey sacks central bank governor after interest rate hike

Turkey fired the governor of its central bank and replaced him with economist and former ruling party lawmaker Şahap Kavcıoğlu, according to a presidential...

Turkish Central Bank’s steps to shore up lira have limited effect

The Turkish Central Bank’s decision on Monday to shore up the lira had a limited effect, resulting only in a rebound to 4.24 from...

CB cuts interbank borrowing limit to TL 11 bln to protect lira

As a measure to halt the recent loss in value of the Turkish lira, the Turkish Central Bank decreased the borrowing limit of banks...

Erdoğan renews call for lowering interest rates

Turkey’s President Recep Tayyip Erdoğan on Saturday renewed his call for lowering interest rates, a few days after the central bank decided to hold...

Turkey’s central bank holds rates despite tumbling lira

Turkey’s central bank, in an unexpected move, held interest rates steady, defying the already historically low Turkish lira on Tuesday. The main rates -- overnight...

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