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Business & Finance

Turkish central bank opens 5bn lira repo auction at 10.25pc

  • The bank raised its policy repo rate by 200 basis points on Thursday, tightening policy for the first time in two years in order to lift the lira from record lows and rein in elevated inflation.
Published September 25, 2020 Updated September 25, 2020 04:26pm
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By Reuters
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ISTANBUL: The Turkish Central Bank said on Friday it opened a 5 billion lira ($663 million) repo auction by the volume method at an interest rate of 10.25pc, a day after a surprise hike in the rate.

The bank raised its policy repo rate by 200 basis points on Thursday, tightening policy for the first time in two years in order to lift the lira from record lows and rein in elevated inflation.

Friday's repo will mature on Oct. 2.

Turkish central bank

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