Macro Analysis /
Turkey

Turkey: CBT hikes RRRs on forex deposits by 200bps for all maturities

  • RRRs raised to 23% for forex deposits with less than one-year maturity, to 17% for forex deposits with longer maturity

  • Move likely aims to stimulate lira savings, support forex reserves of CBT

  • RRR hikes do not change our forecast on MPC to hold policy rate on Sep 23 meeting

Turkey: CBT hikes RRRs on forex deposits by 200bps for all maturities
Metodi Tzanov
EmergingMarketWatch
15 September 2021