Turkish central bank tries to tighten policy without hiking rates

CBRT
The Central Bank of the Republic of Turkey
Photo: CBRT

Turkey’s central bank tried to tighten monetary policy today (October 12) without raising its policy rate, as the Turkish lira’s exchange rate again fell sharply.  

The Central Bank of the Republic of Turkey raised remuneration rates by 200 basis points on the domestic currency reserves that all banks must hold. The CBRT has spent about one-sixth of its currency reserves attempting to bolster the Turkish lira, but faces considerable political resistance to tightening policy rates. Its six

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.