The Central Bank of the Republic of Turkiye (CBRT) announced that Turkish lira warehouse purchase tenders will be held in order to increase the variety of sterilization tools used.
The announcement came after the CBRT Monetary Policy Committee increased the one-week repo auction interest rate, which is the policy rate, by 250 basis points to 42.50%.
In the announcement, “Article 52 of the Central Bank of the Republic of Turkiye Law stipulates that open market operations can be carried out in order to effectively regulate money supply and liquidity within the framework of monetary policy objectives. In this context, TL warehouse purchase tenders will be held in order to strengthen the monetary transmission mechanism and increase the variety of sterilization tools used.”
Source: Trthaber / Prepared by Irem Yildiz
