{"id":22610,"date":"2011-07-25T13:31:00","date_gmt":"2011-07-25T17:31:00","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?guid=7f541119e0b51f32c4107952e6fe4cc3"},"modified":"2011-07-25T13:31:00","modified_gmt":"2011-07-25T17:31:00","slug":"turkish-central-bank-cuts-required-reserves","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2011\/07\/25\/turkish-central-bank-cuts-required-reserves\/","title":{"rendered":"Turkish Central Bank Cuts Required Reserves"},"content":{"rendered":"<p><span class=\"Apple-style-span\" style=\"font-family: Verdana, Geneva, sans-serif; font-size: 12px; line-height: 16px;\"><span class=\"Apple-style-span\" style=\"font-family: Verdana, Geneva, sans-serif; font-size: 12px; line-height: 16px;\"><span class=\"Apple-style-span\" style=\"font-family: Verdana, Geneva, sans-serif; font-size: 12px; line-height: 16px;\">The&nbsp;<a href=\"http:\/\/www.tcmb.gov.tr\/\" style=\"color: #3778cd; text-decoration: none;\">Central Bank of the Republic of Turkey<\/a>&nbsp;dropped the required reserve ratio on 1-year foreign exchange deposits -100bps to 10% from 11%, and for deposits of up to 3-years -150bps to 10% from 11.5%, and for foreign exchange deposits longer than 3 years -200bps to 9% from 11%. &nbsp;The moves come into effect from the 5th of August; the bank said the move would add liquidity of approximately 590 million to the market. &nbsp;The Bank also suspended daily foreign exchange buying auctions of $30 million.<\/span><\/span><\/span><br \/><a name='more'><\/a><span class=\"Apple-style-span\" style=\"font-family: Verdana, Geneva, sans-serif; font-size: 12px; line-height: 16px;\"><br \/>The Turkish central bank held its&nbsp;<a href=\"http:\/\/www.centralbanknews.info\/2011\/07\/turkish-central-bank-holds-interest.html\">benchmark interest rate<\/a>&nbsp;unchanged recently during its July meeting this year. &nbsp;Turkey reported annual consumer price inflation of 6.2% in June, off from 7.2% in May, but up from 4.26% in April, and 3.99% in March, and above the Bank&#8217;s full year inflation target of 5.5%. &nbsp;On inflation the Bank said: &#8220;Although core inflation is likely display some upward movement over the short term, the increase is expected to be limited due to the slowdown in economic activity&#8221;.<\/span><\/p>\n<div><span class=\"Apple-style-span\" style=\"font-family: Verdana, Geneva, sans-serif; font-size: 12px; line-height: 16px;\"><span class=\"Apple-style-span\" style=\"font-family: Verdana, Geneva, sans-serif; font-size: 12px; line-height: 16px;\"><span class=\"Apple-style-span\" style=\"font-family: Verdana, Geneva, sans-serif; font-size: 12px; line-height: 16px;\"> <br \/><a href=\"http:\/\/www.centralbanknews.info\/\" style=\"color: #3778cd; text-decoration: none;\" >www.CentralBankNews.info<\/a><\/span><\/span><\/span><\/div>\n<div class=\"blogger-post-footer\"><img width='1' height='1' src='https:\/\/blogger.googleusercontent.com\/tracker\/8290544642025682538-5566083884856730158?l=www.centralbanknews.info' alt='' \/><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The&nbsp;Central Bank of the Republic of Turkey&nbsp;dropped the required reserve ratio on 1-year foreign exchange deposits -100bps to 10% from 11%, and for deposits of up to 3-years -150bps to 10% from 11.5%, and for foreign exchange deposits longer t&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-22610","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/22610","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=22610"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/22610\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=22610"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=22610"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=22610"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}