Published on Monday, February 18, 2019
The Central Bank of Turkey relies on Macro-Prudential and Communication policies
Summary
The CBRT decided to reduce the RRR in Turkish Lira and increase the upper limit of ROM facility for holding standard gold converted from wrought or scrap gold. Rather than considering the decision as an early sign of an interest rate cut, we perceive the decision as the logical response to stimulate credit but avoid a premature rate cut which could put credibility at risk.
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Álvaro Ortiz
BBVA Research - Head of Analysis with Big Data