Mon, 19 Aug 2019

Central Bank of Turkey takes steps to improve liquidity

By Jay Jackson, Montreal News
18 Feb 2019, 00:04 GMT+10

ANKARA, Turkey - The Central Bank of the Republic of Turkey has lowered reserve requirement ratios to improve liquidity in domestic markets.

"Turkish lira reserve requirement ratios have been reduced by 100 basis points for deposits and participation funds with maturities up to 1-year and for other liabilities with maturities up to (and including) 3-year, and by 50 basis points for all other liabilities subject to reserve requirements," the bank said in a statement distributed on Saturday.

"Furthermore, the upper limit of the facility of holding standard gold converted from wrought or scrap gold collected from residents has been increased from 5% to 10% of Turkish lira reserve requirements."

The move came after remarks during the week from the bank's governor that iys tight monetray policy would be maintained in to to rein in inflation.

 

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