Skip to main content

Turkey intervenes in FX markets as lira slide continues

Liquidity operations and FX deposit rate cuts seek to halt currency's slide

erdem-basci
Erdem Başçı

The Central Bank of the Republic of Turkey (CBRT) has taken action to halt the sliding lira as investors take flight over government meddling and the prospect of shockwaves from a Federal Reserve rate hike.

The CBRT has found itself in an uncomfortable position, trapped between slowing growth and rising inflation, with a falling lira and loud demands for action from president Recep Erdoğan.

Yesterday the central bank cut its deposit rates on foreign exchange from 7.5% to 4.5% for US dollars, and

Solo los usuarios que tengan una suscripción de pago o formen parte de una suscripción corporativa pueden imprimir o copiar contenido.

Para acceder a estas opciones, junto con todas las demás ventajas de la suscripción, póngase en contacto con info@centralbanking.com o consulte nuestras opciones de suscripción aquí: subscriptions.centralbanking.com/subscribe

Actualmente no puede copiar este contenido. Póngase en contacto con info@centralbanking.com para obtener más información.

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

Regístrese en Central Banking

Todos los campos son obligatorios, salvo que se indique lo contrario.

Mostrar contraseña
Ocultar contraseña

Most read articles loading...

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

Iniciar sesión
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

.