Decline in Central Bank reserves ahead of interest rate decision
According to calculations by bankers speaking to Reuters, the Central Bank of the Republic of Turkey (TCMB) net reserves fell by nearly 6 billion dollars last week.
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The Central Bank of the Republic of Turkey (TCMB) Monetary Policy Committee (PPK) will announce its first interest rate decision of 2024 on Thursday, January 25.
While markets have turned their eyes and ears to Thursday, it has been learned that there was a decline in TCMB reserves last week.
Four bankers whose calculations were consulted by Reuters estimated that net reserves, which were announced as 29.5 billion dollars for the week ending January 12, fell by a range of 5.7-6 billion dollars in the week of January 19.
According to the calculations, net reserves will have fallen to approximately 23.5 billion dollars.
TCMB net reserves had fallen by 10.5 billion dollars in three weeks. With this decline, the reserve loss in the last month will exceed 16 billion dollars.
According to the bankers' calculations, total TCMB reserves fell by approximately 1.5 billion dollars last week to 138 billion dollars.
The official data will be announced on Thursday at 14.30.