Tag: Central Bank

The policy rate stays on course at 14%, in line with market expectations.

With the latest agreement, the Turkish Central Bank's total swap figure with foreign central banks reached $28 billion.

Erdoğan encouraged citizens to bring back to the economy 5,000 tons of gold 'kept under the mattress.'

The foreign currency posted a monthly increase of 2.8% while gold reserves downed by 1% in November.

'Latest developments showed that all of our citizens should trust in Turkish lira,' says Recep Tayyip Erdoğan.

Intervention comes as lira nears record low of 17 to the US dollar.

The monetary authority has lowered the key rate by 500 basis points since September.

Move aims to back Turkish lira after it lost ground to other currencies.

Government will always support producers and those who provide employment, says Erdoğan.

Local manufacturing industry units operated at 78.1% of capacity in November.