Turkish Central Bank lowers reserve requirement ratios

ANKARA

The Turkish Central Bank on Tuesday cut remuneration applied to required reserves in Turkish Liras to provide more liquidity in domestic markets.

Remuneration applied to required reserves in Turkish Liras was lowered from 6% to 5% and will be effective from July 10.

Showing the minimum amount of reserves that local banks must hold at the Central Bank, the reserve requirement ratios are determined by the Central Bank to manage the liquidity in local markets.