Bloomberg News

Turkey Signals Tighter Policy With Lower Funding to Banks

May 11, 2012

Turkey’s central bank slashed the minimum amount of lending it will make to banks over one week in a signal that it may tighten monetary policy.

The central bank will lend a minimum of one billion liras in one-week repurchase agreements at its lowest funding rate of 5.75 percent between today and May 24. That compares with the minimum 9 billion liras it announced for the preceding two weeks.

To contact the reporter on this story: Selcuk Gokoluk in Istanbul at sgokoluk@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net


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