Turkey’s central bank raises reserve ratios
Move follows sixth consecutive decision to hold rates
The Turkish central bank said on September 21 that it was raising the reserve requirement ratios (RRRs) for lira deposits in order to support the monetary transmission mechanism.
The Central Bank of the Republic of Turkey (CBRT) raised the ratio for short-term deposits from 12% to 15% and the RRR for long-term deposits from 8% to 10%.
It also cut the proportion of foreign currency deposits that commercial banks will have to keep as lira reserves with the CBRT from 8% to 5%.
The new ratios will come
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