With a communiqué issued by the Central Bank of the Republic of Turkey in the Official Gazette, changes have been made to reserve requirements. According to the communiqué, the monthly growth limit for foreign currency loans has been reduced from 2 percent to 1.5 percent, while the statement from the Central Bank noted, “The Central Bank of the Republic of Turkey has taken steps to support its tight monetary policy stance.
In this direction, changes have been made to the reserve requirement practice based on credit growth, aiming to ensure that credit growth remains consistent with the disinflation path and to protect the share of Turkish lira loans. In this context, it has been decided to reduce the monthly growth limit for foreign currency loans from 2 percent to 1.5 percent, and to keep the monthly growth limits for Turkish lira loans at 2 percent,” the statement said.
Stating that the scope of the exemption provided for investment loans has been expanded, the statement added, “Additionally, by expanding the scope of the exemption provided for investment loans, it has been decided to exempt investment loans utilized within the scope of resources provided by international development finance institutions from both Turkish lira and foreign currency credit growth limits.”
News Source: İHA
