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Business

Turkish central bank opens repo auction with quantity method, interest rate 15pc

  • The bank, which hiked the policy rate sharply to 15pc on Thursday, had been using traditional method repo auctions with one-month maturity in recent months and used backdoor measures to tighten policy.
20 Nov 2020

ISTANBUL: Turkey's central bank said on Friday it opened a repo auction via quantity method with an interest rate of 15pc, a day after it said all funding would be provided through the one-week repo rate.

The maturity for the auction was set for Nov. 27.

The bank, which hiked the policy rate sharply to 15pc on Thursday, had been using traditional method repo auctions with one-month maturity in recent months and used backdoor measures to tighten policy.