While the Central Bank of the Republic of Turkey announced its Monetary and Exchange Rate Policy for 2022; It maintained its inflation target as 5 percent and announced that the floating exchange rate regime would continue.
The Central Bank of the Republic of Turkey (CBRT) has prepared the Basic Framework of Monetary and Exchange Rate Policy for 2022. shared. The Monetary Policy Committee (PPK) will hold 12 meetings a year in 2022 within the framework of a previously announced calendar. The first meeting will be held on January 20, 2022. It was stated that the medium-term inflation target determined together with the government will be maintained as 5 percent, while the monetary policy will be formed in a way that will bring inflation closer to this target gradually.
The CBRT’s main policy instrument remains the one-week repo auction rate.
CBRT will use required reserves as a supportive tool for price stability and financial stability purposes. In this framework, the Reserve Option Mechanism will be completely terminated in 2022, while the costs of FX liabilities will be increased, mechanisms that will support the development of Turkish lira deposits will be prioritized. it will. In this context, in 2022, the CBRT will use its policy tools in the most effective way in order to ensure the healthy functioning of the monetary transmission mechanism and to limit the risks related to macro financial stability.
The floating exchange rate regime will be maintained and exchange rates,
It is aimed to strengthen the CBRT’s foreign exchange reserves in terms of the effectiveness of monetary policy and financial stability. The CBRT will continue to increase its reserves in 2022 if the market conditions are suitable.
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