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TURKEY: Central Bank May Hold Auctions to Sell FX and Gold

TURKEY

The Turkish central bank may hold auctions to sell FX and gold as part of lira sterilization steps, Anadolu Agency reports citing an instruction sent to lenders. 

  • As a reminder, the central bank kept its main policy rate unchanged at 50% today but said liquidity conditions will be “closely monitored”. 
  • The CBRT is expected to continue to make further adjustments to its macroprudential toolkit moving forward in order to manage liquidity and supplement its rate pauses. 

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