Turkish central bank raises reserve requirements
Move comes as governor says bank will maintain tight monetary stance
The Central Bank of the Republic of Turkey (CBRT) has raised the reserve requirement ratio for commercial banks borrowing from abroad in lira in an attempt to enhance monetary policy transmission.
The CBRT said on May 24 that the ratio for lira-denominated funding had been increased to 18% for loans that matured in one month. It added that the ratio had gone up to 14% for short-term funding that matured within three months.
The bank had previously imposed a 12% ratio for maturities of up to one
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