Turkish central bank acts to support lira as inflation jumps
Central bank launches fresh measures to counter “unhealthy price formations”
The Central Bank of the Republic of Turkey (CBRT) took action to support the value of the lira today (January 10), as the currency resumed its downward slide against the US dollar.
The central bank cut the amount banks may borrow from its interbank money market facility, and reduced foreign exchange reserve requirements by 50 basis points (bp). It says this will free up an additional $1.5 billion of liquidity for the financial system.
In its statement, the central bank says it is acting against
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