Turkey keeps tightening with secondary instruments
Hike in late liquidity facility gives room for further tightening
The Central Bank of the Republic of Turkey (CBRT) left its policy rate on hold on March 16, but added to a sharp tightening process via its other liquidity facilities.
Although the policy rate remains flat at 8%, the central bank hiked the rate on its “late liquidity window” by 75 basis points to 11.75%.
Data published by the central bank shows it stopped supplying liquidity at the one-week policy rate in mid-January as inflation began to climb. Instead, it turned to two overnight rates and
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