The Central Bank of Turkey's one percentage point cut to its required reserve ratio will pump TL3.3 billion ($2.26 billion) into the financial system, the central bank said on Friday.
The cut, also announced Friday, leaves the reserve ratio at 5%.
The central bank said the cut was made to support credit growth by injecting permanent liquidity into the system.
Since last October, the central bank has cut the rate at which it borrows overnight by ten percentage points to a record low of 6.75%. It