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It was a bid to stabilise the lira. Bank deposit and credit rates have already risen sharply, and credit growth has virtually halted. As Turkey’s economic crisis takes hold, the…
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DOI: 10.1108/OXAN-DB238519
ISSN: 2633-304X
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Politicisation of central banking.
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DOI: 10.1108/OXAN-DB246000
ISSN: 2633-304X
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Since the start of 2015, 16 central banks have loosened monetary policy, partly because of the fallout from the oil price plunge, which is driving down inflation. This 'race to…
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DOI: 10.1108/OXAN-DB197531
ISSN: 2633-304X
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TURKEY: Bank profitability will fall next year
Erdogan spoke with pride of imposing additional customs duties to protect domestic industries, cheapening credit and launching a national car project. Economic policies are…
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DOI: 10.1108/OXAN-DB254266
ISSN: 2633-304X
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Factors keeping monetary policy loose, despite stronger growth.
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DOI: 10.1108/OXAN-DB201400
ISSN: 2633-304X
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The stability of the lira since June 2022 is primarily a result of President Recep Tayyip Erdogan’s government shoring up the currency despite cutting interest rates. The…
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DOI: 10.1108/OXAN-DB275967
ISSN: 2633-304X
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However, serious concerns remain about the credibility of Turkey's Central Bank (CBRT), whose refusal to mount an interest rate defence of the lira accentuates the risks posed by…
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DOI: 10.1108/OXAN-DB206415
ISSN: 2633-304X
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Cetinkaya is an apparent compromise between President Recep Tayyip Erdogan and Prime Minister Ahmet Davutoglu. The MPC cut the overnight lending rate by 50 basis points to 10%…
With the lira at a record low, the Central Bank continued to tighten monetary policy this week, funding the market through competitive one-month repo tenders at rates of around…