20.03.2025 18:00
A new currency move has come from the Central Bank. The bank raised the overnight lending interest rate by 200 basis points to 46%.
A new currency move has come from the Central Bank. The bank has raised the overnight lending interest rate to 46%.
The Monetary Policy Committee of the Central Bank of the Republic of Turkey (CBRT) convened to address the latest developments in the financial markets. The Monetary Policy Committee raised the Central Bank's overnight lending interest rate by 3.5 percentage points. The lending rate was increased to 46% with a 200 basis point rise.
The Central Bank kept the policy rate, which is the one-week repo auction interest rate, at 42.5%, and the overnight borrowing interest rate at 41%.
In a statement from the Central Bank's Monetary Policy Committee, it was noted: "The Monetary Policy Committee (Committee) has convened to evaluate developments in the financial markets. Measures supporting a tight monetary stance have been taken, considering the risks that these developments may pose to the inflation outlook.
In this regard, the Committee has decided to raise the Central Bank's overnight lending interest rate to 46%. The policy rate, which is the one-week repo auction interest rate, has been kept at 42.5%, and the Central Bank's overnight borrowing interest rate has been maintained at 41%.
Additionally, measures have been taken to limit volatility in the market regarding TL and foreign currency liquidity. If deemed necessary, additional measures will be taken to ensure the effective functioning of financial markets.
Details are coming...