CBRT cuts low-interest OMO liquidity

cbrt-cuts-low-interest-omo-liquidity--11082011

CBRT cuts low-interest OMO liquidity

According to the CBRT statement; Within the scope of liquidity management, the liquidity facility limits granted to market maker banks within the framework of Open Market Operations, effective from 12 August 2020, have been reset.

 

The Central Bank has reduced the OMO liquidity facility, which it previously halved on August 7, to zero. With this move, the Bank will reduce the liquidity provided at low cost, tighten TRY and increase the average TRY cost. The weighted average cost of funding has recently surpassed the policy rate, at 8.32%. It can be expected that this will gradually increase the upper band of the interest corridor up to 9.75%.

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