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Turkey’s central bank keeps main interest rate at 17 percent

Turkey's central bank on Thursday kept its main interest rate steady at 17 percent after two consecutive hikes aimed at slowing down inflation and...

Former finance minister slams Erdoğan over rate hike, demanding an explanation to the nation

A former economy minister lambasted Turkish President Recep Tayyip Erdoğan on Friday after the president described an aggressive repo rate hike by the central...

Turkey’s Erdoğan expects interest rates to fall further: report

Turkish President Recep Tayyip Erdoğan said on Monday he hopes market interest rates will fall further in order to make investments in the country...

Rating agencies warn Turkey it may need to hike rates: report

Ratings agencies warned Turkey on Friday that it will likely have to hike interest rates sooner or later as it runs out of options...

Turkish central bank unexpectedly halts interest rate easing cycle: report

Turkey’s central bank unexpectedly halted a nearly year-long easing cycle on Thursday by keeping its key interest rate unchanged at 8.25 percent and citing...

Turkish central bank cuts interest rate to 8.75 pct amid coronavirus crisis: report

Turkey’s central bank cut interest rates to 8.75 percent on Wednesday, risking further lira weakness, in a bigger-than-expected move aimed at limiting the economic damage of...

Goldman Sachs predicts more cuts in Turkey’s interest rate before rise again next year: report

Turkey’s central bank will bring interest rates to single digits within months, as demanded by President Recep Tayyip Erdoğan, before they start to rise again next...

Turkish religious authority issues fatwa allowing gov’t to take out interest-bearing loans

A new fatwa from Turkey’s top religious authority on Tuesday said the government was allowed to take out loans with interest for its public housing projects,...

Turkey’s construction sector expects revival in third quarter of 2020

Turkey's construction sector is expected to revive in the third quarter of next year, said the head of the Anatolian Side Contractors Association, a construction group operating on...

Car sales in Turkey surge by 127.5 pct in October: report

Sales of passenger cars and light commercial vehicles in Turkey surged 127.5 percent year-on-year in October, the Automotive Distributors Association said on Monday, after a sharp...

Turkish state bank lowers interest rates on loans: report

Turkish state lender Ziraat Bank said on Thursday that it had lowered its interest rates on housing, consumer and corporate loans as of Aug. 1, Reuters...

Turkey’s currency weakens after Erdoğan fires central bank governor

Turkey’s lira weakened on Monday after President Recep Tayyip Erdoğan dismissed the central bank governor, reigniting concerns about political interference in monetary policy and expectations of...

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