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

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Metodi Tzanov @ EmergingMarketWatch
September 15th, 2021
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