T?RKIYE-ANKARA-INFLATION

T?RKIYE-ANKARA-INFLATION

(240703) -- ANKARA, July 3, 2024 Photo by Xinhua/ABACAPRESS.COM) -- People walk on a street in Ankara, Trkiye, July 3, 2024. Trkiye's inflation is on a falling trend for the first time in eight months, marking what appears to be the beginning of a long-anticipated and sustained disinflation. However, consumer sentiment remains unimpressed despite the improvement. TO GO WITH "Roundup: Trkiye's inflation cools as consumers stay on their toes" (Mustafa Kaya/Handout via Xinhua/ABACAPRESS.COM

T?RKIYE-ANKARA-INFLATION

T?RKIYE-ANKARA-INFLATION

(240703) -- ANKARA, July 3, 2024 Photo by Xinhua/ABACAPRESS.COM) -- People withdraw money from an ATM in Ankara, Trkiye, July 3, 2024. Trkiye's inflation is on a falling trend for the first time in eight months, marking what appears to be the beginning of a long-anticipated and sustained disinflation. However, consumer sentiment remains unimpressed despite the improvement. TO GO WITH "Roundup: Trkiye's inflation cools as consumers stay on their toes" (Mustafa Kaya/Handout via Xinhua/ABACAPRESS.COM

Turkish consumers' patience wears thin as inflation peaks at 75 pct

STORY: Turkish consumers' patience wears thin as inflation rate peaks at 75 pct SHOOTING TIME: June 3, 2024 DATELINE: June 4, 2024 LENGTH: 00:03:37 LOCATION: Ankara CATEGORY: ECONOMY SHOTLIST: 1. various of Ankara 2. SOUNDBITE 1 (Turkish): SUAT ENGIN, Pensioner 3. various of Ankara 4. SOUNDBITE 2 (Turkish): NILGUN OZMEN, Pensioner 5. various of Ankara 6. SOUNDBITE 3 (Turkish): SELMA SONGUN, Housewife STORYLINE: With Türkiye's annualized inflation rate exceeding 75 percent in May, Turkish consumers are in desperate need of the relief promised by the government's disinflation efforts. Türkiye's inflation rate rose in May to 75.45 percent, official data revealed on Monday. That's the highest point since November 2022, and a significant jump from April's rate of 69.8 percent. "The worst is over," Treasury and Finance Minister Mehmet Simsek said on X after Monday's data release. The minister sought to reassure the public that relief is in sight. "We saw the highest level of annual inflation, which refl

South African Reserve Bank releases 2024 Monetary Policy Review

STORY: South African Reserve Bank releases 2024 Monetary Policy Review SHOOTING TIME: April 24, 2024 DATELINE: April 27, 2024 LENGTH: 00:02:52 LOCATION: JOHANNESBURG, South Africa CATEGORY: ECONOMY SHOTLIST: 1. various of the meeting 2. SOUNDBITE 1 (English): LESEJA KGANYAGO, Governor of SARB 3. various of the meeting 4. SOUNDBITE 2 (English): WITNESS SIMBANEGAVI, Economic Research department of the South African Reserve Bank STORYLINE: The South African Reserve Bank (SARB) released its 2024 Monetary Policy Review on Wednesday, indicating that headline inflation is only expected to return to the mid-point of the target band in the last quarter of 2025. South Africa's inflation target range is 3 to 6 percent. The report said that amid slower-than-expected disinflation in food and volatility in fuel prices, headline inflation had fluctuated in the range of 5-6 percent over the past six months. In terms of growth, the SARB anticipates that real GDP will increase to 1.2 percent this year. SOUNDBITE 1 (Engli

Egypt's central bank raises interest rates by 600 bps

STORY: Egypt's central bank raises interest rates by 600 bps SHOOTING TIME: earlier footage DATELINE: March 7, 2024 LENGTH: 00:00:57 LOCATION: Cairo CATEGORY: ECONOMY SHOTLIST: 1. various of the Central Bank of Egypt 2. various of an accountant counting banknotes 3. various of the National Bank of Egypt 4. various of Banque Misr STORYLINE: The Central Bank of Egypt (CBE) raised its interest rates by 600 basis points (bps) on Wednesday and said it would allow the exchange rate to be determined by the market in a bid to ensure a smooth transition to a flexible inflation targeting regime. In a statement, the central bank raised the overnight lending rate to 28.25 percent, its overnight deposit rate to 27.25 percent, and the rate of the main operation to 27.75 percent. The CBE decided to accelerate the monetary tightening process in order to fast-track the disinflation path and ensure a decline in underlying inflation. Egypt's annual inflation figures, despite recent declines, are expected to remai

Turkish central bank keeps interest rate unchanged at 45 pct

STORY: Turkish central bank keeps interest rate unchanged at 45 pct SHOOTING TIME: Feb. 22, 2024 DATELINE: Feb. 23, 2024 LENGTH: 00:00:29 LOCATION: Ankara CATEGORY: ECONOMY SHOTLIST: 1. various of people shopping 2. various of Turkish Treasury and Finance Minister Mehmet Simsek 3. various of Fatih Karahan, the new Governor of Turkish Central Bank STORYLINE: Türkiye's central bank kept its interest rate unchanged at 45 percent on Thursday, completing a monetary tightening cycle to set the course for disinflation. "The current level of the policy rate will be maintained until there is a significant and sustained decline in the underlying trend of monthly inflation and until inflation expectations converge to the projected forecast range," said the bank in a statement. It added that the monetary policy stance will be tightened if a significant and persistent deterioration in the inflation outlook is anticipated. "Monetary transmission mechanism will be supported in case of unanticipated developmen

TÜRKIYE-ANKARA-CENTRAL BANK-INTEREST RATE-UNCHANGED

TÜRKIYE-ANKARA-CENTRAL BANK-INTEREST RATE-UNCHANGED

(240222) -- ANKARA, Feb. 22, 2024 (Xinhua) -- Photo taken on Feb. 22, 2024 shows the logo of Turkish central bank in Ankara, Türkiye. Türkiye's central bank kept its interest rate unchanged at 45 percent on Thursday, completing a monetary tightening cycle to set the course for disinflation. (Photo by Mustafa Kaya/Xinhua)

TÜRKIYE-ANKARA-CENTRAL BANK-INTEREST RATE-UNCHANGED

TÜRKIYE-ANKARA-CENTRAL BANK-INTEREST RATE-UNCHANGED

(240222) -- ANKARA, Feb. 22, 2024 (Xinhua) -- People withdraw money from ATMs in Ankara, Türkiye, on Feb. 22, 2024. Türkiye's central bank kept its interest rate unchanged at 45 percent on Thursday, completing a monetary tightening cycle to set the course for disinflation. (Photo by Mustafa Kaya/Xinhua)

TÜRKIYE-ANKARA-CENTRAL BANK-INTEREST RATE-UNCHANGED

TÜRKIYE-ANKARA-CENTRAL BANK-INTEREST RATE-UNCHANGED

(240222) -- ANKARA, Feb. 22, 2024 (Xinhua) -- People withdraw money from ATMs in Ankara, Türkiye, on Feb. 22, 2024. Türkiye's central bank kept its interest rate unchanged at 45 percent on Thursday, completing a monetary tightening cycle to set the course for disinflation. (Photo by Mustafa Kaya/Xinhua)

Expert remains cautious about inflation forecast in Türkiye

STORY: Expert remains cautious about inflation forecast in Türkiye SHOOTING TIME: Feb. 8, 2024, File DATELINE: Feb. 10, 2024 LENGTH: 00:05:01 LOCATION: Ankara CATEGORY: ECONOMY SHOTLIST: 1. various of the press conference of Fatih Karahan, the new Governor of Turkish Central Bank (Feb. 8, 2024) (courtesy of ihlas news agency) 2. various of Turkish Central Bank 3. various of Turkish lira 4. various of some apartments in Ankara, Türkiye 5. various of fields in Türkiye (01:03-02:12) (Aug. 5, 2022) (courtesy of ihlas news agency) 6. various of Turkish lira 7. SOUNDBITE (Turkish): MUSTAFA SONMEZ, Istanbul-based economist STORYLINE The new head of Türkiye's central bank said the bank will maintain its tight policy stance until high inflation drops to target, as it held its year-end consumer price forecast at 36 percent. In a press conference in the capital city of Ankara, Fatih Karahan said that monetary tightness will be maintained so long as a disinflation process yields results. Karahan recently replaced H

Türkiye raises policy rate to 45 pct as predicted

STORY: Türkiye raises policy rate to 45 pct as predicted SHOOTING TIME: Jan. 9, 2024/Nov. 30, 2023 DATELINE: Jan. 26, 2024 LENGTH: 00:01:14 LOCATION: Ankara CATEGORY: ECONOMY SHOTLIST: 1. various of Turkish central bank (Nov. 30, 2023) 2. various of Turkish lira (Nov. 30, 2023) 3. various of people at cashpoints in Türkiye (Jan. 9, 2024) 4. various of Turkish lira (Nov. 30, 2023) STORYLINE: The Turkish central bank on Thursday raised its key interest rate by 250 basis points to 45 percent, in line with market expectations. The central bank's monetary policy committee said in a statement that the level of monetary tightening required to establish disinflation has been reached. "Taking into account the lagged impact of monetary tightening, the committee assesses that the monetary tightness required to establish the disinflation course is achieved and that this level will be maintained as long as needed," the statement said. According to the statement, the committee assessed that the current policy rate le

Turkish central bank raises policy interest rate to 40 pct

STORY: Turkish central bank raises policy interest rate to 40 pct SHOOTING TIME: Nov. 13, 2023 DATELINE: Nov. 24, 2023 LENGTH: 00:01:12 LOCATION: Ankara CATEGORY: ECONOMY SHOTLIST: 1. various of Turkish Central Bank (date: Nov. 13, 2023) (edited) 2. various of Turkish Lira (date: Nov. 13, 2023) (edited) 3. various of Turkish Central Bank Governor Hafize Gaye Erka (date: Nov. 2, 2023) (edited) 4. various of Turkish Lira (date: Nov. 13, 2023) (edited) 5. various of Turkish Central Bank (date: Nov. 13, 2023) (edited) STORYLINE: Türkiye's central bank increased on Thursday its policy rate by 500 basis points to 40 percent. The central bank's monetary policy committee said in a statement that the current level of monetary tightness is assessed to be significantly close to the level required to establish the disinflation course. "Accordingly, the pace of monetary tightening will slow down, and the tightening cycle will be completed shortly," the central bank said in a statement, while noting "the monetar

Turkish central bank raises policy interest rate to 35 pct

STORY: Turkish central bank raises policy interest rate to 35 pct DATELINE: Oct. 27, 2023 LENGTH: 00:01:05 LOCATION: Ankara CATEGORY: ECONOMY SHOTLIST: 1. various of Türkiye's central bank 2. various of Turkish lira 3. various of stores STORYLINE: Türkiye's central bank increased its policy interest rate by 500 basis points from 30 percent to 35 percent on Thursday. The central bank's monetary policy committee said in a statement that it decided to continue the monetary tightening process in order to establish the disinflation course as soon as possible, anchor inflation expectations, and control the deterioration in pricing behavior. In the third quarter, inflation readings were above expectations, said the statement. "The strong course of domestic demand, the stickiness of services inflation, and the deterioration in inflation expectations continue to put upward pressure on inflation," it added. In addition, geopolitical developments have posed risks to the inflation outlook, said the ba

Türkiye's central bank raises interest rate to 17.5 pct

STORY: Türkiye's central bank raises interest rate to 17.5 pct DATELINE: July 21, 2023 LENGTH: 00:02:11 LOCATION: Ankara CATEGORY: ECONOMY SHOTLIST: 1. various of bank 2. various of streets view and people walking STORYLINE: Türkiye's central bank on Thursday raised its benchmark interest rate by 250 basis points to 17.5 percent from 15 percent in a move against high inflation and currency fluctuations. The central bank "decided to continue the monetary tightening process to establish the disinflation course as soon as possible, to anchor inflation expectations, and to control the deterioration in pricing behavior," the institution's monetary policy committee said in a statement. To improve market mechanisms and stability, the committee will gradually "simplify and improve the existing micro- and macroprudential framework" and pledges quantitative and credit tightening to support the rate hike, it added. The hike came nearly a month after the Turkish central bank hiked its main rate by 650 basis p

Türkiye keeps benchmark interest rate unchanged for 7th straight month

STORY: Türkiye keeps benchmark interest rate unchanged for 7th straight month DATELINE: July 22, 2022 LENGTH: 00:01:34 LOCATION: Ankara CATEGORY: ECONOMY SHOTLIST: 1. Various of Turkish central bank 2. Various of Turkish lira 3. Various of Turkish central bank 4. Various of an exchange office in Türkiye (courtesy of Ihlas News Agency) 5. Various of Turkish central bank 6. Various of people at shopping in Türkiye (courtesy of Ihlas News Agency) 7. Various of Turkish central bank 8. Various of U.S. dollar STORYLINE: Türkiye's central bank kept its benchmark interest rate unchanged at 14 percent for a seventh straight month on Thursday amid soaring inflation. "The committee expects the disinflation process to start on the back of measures taken and decisively implemented for strengthening sustainable price and financial stability along with the resolution of the ongoing regional conflict. Accordingly, the committee has decided to keep the policy rate unchanged," the central bank's Monetary Policy Comm

Turkey keeps benchmark interest rate unchanged for sixth straight month

STORY: Turkey keeps benchmark interest rate unchanged for sixth straight month DATELINE: June 24, 2022 LENGTH: 00:01:08 LOCATION: Ankara CATEGORY: ECONOMY SHOTLIST: 1. exterior of Turkey's central bank 2. various of bank workers counting money 3. various of street views in Turkey 4. various of people shopping STORYLINE: Turkey's central bank kept its benchmark interest rate unchanged at 14 percent for a sixth straight month on Thursday despite the rising inflation. While the share of sustainable components of economic growth increases with tourism-related improvements, risks on current account balance due to energy prices continue, the central bank's Monetary Policy Committee (MPC) said in a statement. "Credit growth and allocation of funds for real economic activity purposes are closely monitored. The committee will continue to implement the strengthened macroprudential policy set decisively and take additional measures when needed," the statement said. The committee expects the "disinflation process t

Turkey's central bank keeps interest rate unchanged at 14 pct

STORY: Turkey's central bank keeps interest rate unchanged at 14 pct DATELINE: March 18, 2022 LENGTH: 00:01:34 LOCATION: Ankara CATEGORY: ECONOMY SHOTLIST: 1. various of Turkish central bank 2. various of bank notes STORYLINE: The Monetary Policy Committee of Turkey's central bank on Thursday decided to keep the policy rate constant at 14 percent. The committee released a statement on Thursday, saying it "expects the disinflation process to start on the back of measures taken and decisively pursued for sustainable price and financial stability along with the decline in inflation owing to the base effect and the resolution of the ongoing regional conflict." "Accordingly, the committee has decided to keep the policy rate unchanged," said the statement. The policy rate has been standing at 14 percent in Turkey since the meeting of the committee in December 2021. Xinhua News Agency correspondents reporting from Ankara. (XHTV)

BOJ not ready to ease credit soon

BOJ not ready to ease credit soon

Bank of Japan Deputy Governor Hiroshi Nakaso attends a press conference in the western Japan city of Matsuyama on March 9, 2015. In his speech to business leaders there, Nakano indicated the central bank is not ready to implement additional monetary easing measures soon, despite growing concern over disinflation triggered by a plunge in global crude oil prices. (Kyodo) ==Kyodo