Headlines from Reuters, most likely citing domestic banks on the matter
- Excessive price movements also a factor in that decision
- CBRT will meet banks' lira liquidity needs at overnight rate of 19.25% instead
- CBRT may not use overnight funding today due to low lira liquidity needs though
- CBRT move today could be the first step towards tightening policy through its interest rate corridor
I'm really not sure about that last opinion though. If they are to tighten policy through rates, they should have and would have done so by now instead of skirting around it with money market interventions and the reserve requirement ratios.
However, if they exhaust those options then I guess we are moving closer towards potentially tightening through rates when they have nothing left on the table.
Apart from that, there isn't much to glean from the comments here really. They're mainly in response to the CBRT's decision earlier here.
