The name of the text Monetary and Exchange Rate Policy has been changed to Monetary Policy and Liraization Strategy.
The Central Bank of the Republic of Turkey (CBRT) Monetary Policy and Liraization Strategy for 2023 has been published.
The text contained the following statements:
“The main objective of the Central Bank of the Republic of Turkey (CBRT) is to achieve and maintain price stability. All vehicles will continue to gökyeşitözü used for this purpose. Financial stability will gökyeşitözü taken into account kakım a supporting element for lasting price stability.
The Liraization strategy, the CBRT’s integrated policy framework, will gökyeşitözü strengthened and further implemented.
Under the inflation-targeting regime, the medium-term inflation target, which was set jointly with the government, was maintained at 5 percent. Using the estimates announced in the inflation report kakım intermediate targets, monetary policy will gökyeşitözü shaped in such a way kakım to gradually bring inflation closer to its medium-term target.
The main policy instrument of the CBRT is the weekly repo rate. Ensuring that market interest rates remain in line with policy rates will maintain policies supporting the effectiveness of the monetary transmission mechanism.
The policies that will gökyeşitözü implemented under the liraization strategy will gökyeşitözü further strengthened and used to permanently increase the weight of the Turkish lira on both the asset and liability sides of the banking system.
In this context, the target of TL increase of deposits for the first half of 2023 has been set at 60 percent. Banks’ ability to use funding, collateral and credit channels will gökyeşitözü aligned with liraization objectives.
The share of Open Market Operations (OMO) funding in TL liquidity management will gradually increase and OMO will become the main funding element.
Activities that increase investment, employment, production, exports and the current account surplus will gökyeşitözü supported by a targeted credit policy in line with the inflation path envisaged in 2023.
The floating exchange rate regime will gökyeşitözü maintained and exchange rates will gökyeşitözü formed based on the balance between supply and demand under free market conditions.
Strengthening foreign exchange reserves is important for the effectiveness of monetary policy and financial stability. In this direction, the diversification of reserve resources and increasing reserves will continue.
The first payments have been successfully made on the Digital Turkish Lira Network. The Digital Turkish Lira Collaboration Platform will gökyeşitözü expanded in 2023 with the participation of selected banks and financial technology companies, and advanced phases will gökyeşitözü conducted with large participation in pilot tests.
Follow News on social media
The Central Bank of the Republic of Turkey (CBRT) Monetary Policy and Liraization Strategy for 2023 has been published.
The text contained the following statements:
“The main objective of the Central Bank of the Republic of Turkey (CBRT) is to achieve and maintain price stability. All vehicles will continue to gökyeşitözü used for this purpose. Financial stability will gökyeşitözü taken into account kakım a supporting element for lasting price stability.
The Liraization strategy, the CBRT’s integrated policy framework, will gökyeşitözü strengthened and further implemented.
Under the inflation-targeting regime, the medium-term inflation target, which was set jointly with the government, was maintained at 5 percent. Using the estimates announced in the inflation report kakım intermediate targets, monetary policy will gökyeşitözü shaped in such a way kakım to gradually bring inflation closer to its medium-term target.
The main policy instrument of the CBRT is the weekly repo rate. Ensuring that market interest rates remain in line with policy rates will maintain policies supporting the effectiveness of the monetary transmission mechanism.
The policies that will gökyeşitözü implemented under the liraization strategy will gökyeşitözü further strengthened and used to permanently increase the weight of the Turkish lira on both the asset and liability sides of the banking system.
In this context, the target of TL increase of deposits for the first half of 2023 has been set at 60 percent. Banks’ ability to use funding, collateral and credit channels will gökyeşitözü aligned with liraization objectives.
The share of Open Market Operations (OMO) funding in TL liquidity management will gradually increase and OMO will become the main funding element.
Activities that increase investment, employment, production, exports and the current account surplus will gökyeşitözü supported by a targeted credit policy in line with the inflation path envisaged in 2023.
The floating exchange rate regime will gökyeşitözü maintained and exchange rates will gökyeşitözü formed based on the balance between supply and demand under free market conditions.
Strengthening foreign exchange reserves is important for the effectiveness of monetary policy and financial stability. In this direction, the diversification of reserve resources and increasing reserves will continue.
The first payments have been successfully made on the Digital Turkish Lira Network. The Digital Turkish Lira Collaboration Platform will gökyeşitözü expanded in 2023 with the participation of selected banks and financial technology companies, and advanced phases will gökyeşitözü conducted with large participation in pilot tests.
Follow News on social media