|Data||16 Feb 2023||10.5|
|15 Feb 2023||10.5|
|Source||Central Bank of the Republic of Turkey (CBT)|
|Lending Rate||16 Feb 2023||10.5||10.5||%||Daily|
|Money Market Rate||16 Feb 2023||7.5||7.5||%||Daily|
|Stock Market Index||08 Feb 2023||4,186||4,505||Index, NSA||Business Daily|
|Treasury Bills (over 31 days)||Apr 2008||17.72||% p.a., NSA||Monthly|
In line with its primary objective of achieving and maintaining price stability, the Central Bank carries out monetary policy within the framework of the inflation targeting regime. The Central Bank’s main policy instrument is short term interest rates at the Interbank Money Market and the Istanbul Stock Exchange Repo-Reverse Repo Market. If necessary, required reserve ratios and other liquidity instruments can be used as supplementary instruments.
The Monetary Policy Committee (MPC) meets once a month. The meetings are held in two sessions. The first session starting at 10 am, is a general session and hosts Central Bank authorities and specialists and authorities from the Undersecretariat of Treasury. In this session, the related bodies of the Central Bank presents reports on evaluations about economic developments and the inflation outlook to the MPC.
At the second session, which only MPC members participate, the final evaluations about the inflation outlook are made and the decision is put to a vote. The decision and its brief rationale is announced on the Central Bank website at 7 pm, and the English translation of the press release is put on the website on the same day. The summary of the MPC meeting is released on the website of the Central Bank within eight working days, along with its English translation.