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CBRT Relaxes Bond Purchase Rule for FX Liabilities

TURKEY
  • The lira bond purchase ratio for banks’ FX liabilities has been reduced to 4% from 5%, according to a central bank statement. Additionally, the policy on purchasing government bonds according to loan growth has been extended by 6 months from year-end. Statement here.
  • Meanwhile, there was no change in the maximum interest rate applied to credit cards (see here).
  • The central bank states: "Within the scope of policies regarding the prioritization of Turkish Lira deposits, steps will continue to be taken to support Turkish Lira deposits."

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