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According to information obtained by AA’s correspondent, the interest rate applied to the Turkish lira on gold / foreign currency swap transactions carried out within the Central Bank increased from 13.25 percent to 15 percent.
Currently, swap transactions are carried out by the CBRT using the one-week listing method and traditional 1-3-6 month auctions. Furthermore, the CBRT carries out swap operations on the BIST Swap Market in accordance with the interest rates applied on the listed swap market. At the Inflation Report meeting, it was stated that the amount of funding provided by the CBRT under all exchange opportunities constituted approximately 60 percent of the system’s funding need.
Analysts claimed that following decisions made at yesterday’s Monetary Policy Committee meeting, the CBRT equated the interest applied to the Turkish lira with the policy rate, as expected.
While CBRT raised the policy rate to 15 percent yesterday, in the text of the decision, “It has been decided to make all the funds at the one-week interest rate, which is the main policy instrument. Statements were included.
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