By Muhammed Ali Gurtas
ANKARA (AA) – The Central Bank of the Republic of Turkey (CBRT) on Monday announced that it had decided to complete the simplification process regarding the operational
framework of the monetary policy.
“One-week repo rate will be the policy rate of the Central Bank, ” it said. “This rate will be equal to the current funding rate (16.5 percent). ”
“Central Bank overnight borrowing and lending rates will be determined at 150 basis points below/above the one-week repo rate, ” the CBRT added.
The bank stated that the new operational framework will take effect on June 1.
