Turkey‘s Treasury and Finance Ministry said on June 10 the fight against inflation remained the top priority in its macroeconomic policy, with fiscal discipline never to be compromised.
In a statement following an overnight announcement of measures to support the economy, the Treasury said the use of lira and practices to increase its attractiveness will continue without compromising free market rules.
Meanwhile, Turkey will double the reserve requirement ratio for lira-denominated commercial cash loans to 20%, the central bank said.
Banks will maintain additional lira long-term fixed-rate securities for foreign currency deposits as a complementary step to the higher weighting of securities in the collateral pool that will become effective on June 24, the central bank said in a statement on its website Friday.
Hurriyet Daily News