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Central Bank of the Republic of Turkey

Central Bank of the Republic of Turkey Overview

The Central Bank of Turkey (CBRT) is responsible for maintaining Turkey’s financial stability.

It is in charge of the country’s monetary and exchange rate policy, managing international reserves, issuing banknotes and regulating payment systems.

CBRT operates as a joint stock company with shares classified for four types of owner: the Finance and Treasury Ministry (55.12 percent); Turkish banks (25.74 percent), non-Turkish banks and “privileged companies” (0.02 percent), and Turkish individuals (19.12 percent).

CBRT is governed by a general assembly of shareholders, a board of directors, a monetary policy committee for policy decisions and auditing and executive committees.

Its current policies pursue price stability while supporting government growth and employment policies.

It has representative offices in cities including London, Frankfurt, New York and Tokyo.

Central Bank of the Republic of Turkey News

Turkish inflation

High costs push up Turkish inflation in January

A sharp jump in costs may hinder the Turkish government’s hopes of delivering further interest rate cuts, with inflation in the services sector, housing costs and food combining to pressure the consumer price index.  Inflation rose by just over 5 percent in January, according to data from state statistics agency Turkstat. This was fuelled by […]

Credit and debit transactions for clothing and accessories in Turkey accounted for more than TL1 trillion

Credit and debit card use rises steeply in Turkey

Cash could be dethroned as king in Turkey as consumers increasingly turn to plastic when paying for goods and services. But the rise in card usage also comes at a cost, as more Turks fall behind in servicing their debt. Credit and debit card spending reached a total of TL14.87 trillion ($420 billion) in 2024, […]

A residential street in Istanbul. Turkish house sales rose in December and the trend is expected to continue

Turkish house sales rise as interest rates fall

Turkish house sales rebounded strongly in 2024, driven in part by a surge in December prompted by a long-anticipated interest rates cut, and further reductions in borrowing costs are expected to fuel appetite in the market this year.  Residential sales increased 20 percent last year, with just under 1.48 million units sold, up from the […]

turkey foreign currency: Chefs at work in a bakery in Istanbul, Turkey. The central bank has eased its hold on growth in lira-denominated loans for SMEs

Turkey seeks to curb foreign-currency borrowing

The central bank of Turkey has further tightened access to foreign currency borrowing by businesses, while opening the door for an increase in some lira-denominated commercial loans. The country’s central bank last week announced it was lowering its ceiling on foreign currency loan growth to 1 percent a month, down from the previous upper limit […]

Shoppers stroll through the Grand Bazaar in Istanbul

Turkish central bank surprises with large rate cut

Turkey’s central bank has cut its key lending rate by a higher than expected 250 basis points. The bank lowered its lending rate to 47.5 percent on December 26, down from the 50 percent it has stood at since March. This is the first reduction in nearly two years and a sign that the bank […]

Text, Document, Driving License

Turkey to end FX-protected lira deposits next year

The Turkish central bank plans to end the forex-protected lira deposits (KKM) scheme in 2025 after its balance fell to $34.2 billion as of December 20 2024. The share of Turkish lira deposits within total deposits rose to 58.6 percent, and the share of KKM within total deposits fell to 6.2 percent, the central bank […]

The Dubai Marina promenade. The emirate's constant population growth and stable economy attracts Turkish property investors

Turks drawn to overseas property investments

Turkish property investors are increasingly looking further afield as they seek real-estate opportunities.  High interest rates and cooling returns on assets at home make the domestic market less appealing both to Turks and foreigners. While Turkey remains a property investment destination, with a net positive balance of capital movement, inflows are tapering off just as […]

Antalya, Turkey - This photograph captures the contrast between the traditional Ottoman-style house and the modern apartment building in Kaleici, the Old Town of Antalya.

Housing market in Turkey bounces back to 2022 levels

Cooling prices and increased potential for strong returns on investment have fuelled a rebound in the Turkish housing market, with sales hitting heights not seen in almost two years.  Just under 141,000 residential properties were sold in September, a 37 percent year-on-year improvement, and the best result since December 2022, data from the state statistics […]

Turkey curb inflation

IMF says Turkey is making progress on inflation

Turkey is on the right track to curb inflation and realign the economy for growth, the International Monetary Fund says in a report issued late last week. However, the IMF says even more stringent measures are needed.    The IMF acknowledges the Turkish government’s tightening of fiscal policy, but says it should do more to meet disinflation […]

Işbank Turkey bank Hakan Aran

Turkey’s largest privately owned bank to expand to UK and EU

Işbank, the largest private bank by assets in Turkey, is exploring potential acquisitions and partnerships in digital banking and payment systems in the United Kingdom and European Union, a news report said. The move is part of the bank’s aims to become a regional fintech hub, backed by the recent merger of its subsidiary Moka […]