Turkish Central Bank to cut to zero borrowing limits of lenders

By Tuba Sahin

ANKARA (AA) - As part of tightening steps taken under the liquidity management, the Turkish Central Bank will reduce to zero borrowing limits of lenders at the Interbank Money Market.

The bank will also suspend overnight repo transactions via the quotation method against Turkish Lira-denominated lease certificate in the scope of Open Market Operations.

According to a statement from the bank on Monday, the decisions will be effective from Nov. 3.

"In pursuit of the price stability and the financial stability objectives, all necessary instruments within the framework of monetary policy and liquidity management will continue to be used decisively," the statement read.