“Its hands are not tied […] It will do what is necessary,” Mehmet Simsek told a televised interview on private news channel NTV.<\/p>\n
He also said the bank had the full support of the government, adding that the bank’s decision to hike interest rates on Wednesday to support Turkish lira had shown its independence.<\/p>\n
“Turkish Central Bank has taken a strong step that had immediate effects [on the market],” Simsek.<\/p>\n
On Wednesday, Central Bank of the Republic of Turkey (CBRT) hiked late liquidity window interest rates, as the borrowing rate was kept at 0 percent while the lending rate was raised from 13.50 to 16.50 percent.<\/p>\n
In recent months the Turkish lira has been losing ground to the U.S. dollar. The USD\/TRY rate has risen nearly 20 percent since the beginning of this year.<\/p>\n
The dollar\/lira rate hit an all-time high — reaching 4.93 — just before the bank raised rates, versus last year, when one dollar traded for 3.65 lira on average.<\/p>\n
The bank on Thursday raised the upper limit of its forward foreign exchange sale position for the second quarter of this year.<\/p>\n
Also on Friday The CBRT fixed foreign exchange rates for rediscount credit repayments for export.<\/p>\nError, group does not exist! Check your syntax! (ID: 9)<\/span>\n","protected":false},"excerpt":{"rendered":" A Turkish deputy prime minister said Friday the country’s Central Bank is capable of taking action against speculative attacks amid recent volatility in foreign exchange rates.<\/p>\n","protected":false},"author":3,"featured_media":60945,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[80,51,1,118,194],"tags":[18180,18498,9120],"class_list":["post-60944","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-breaking-news","category-economy","category-general","category-hot","category-turkey-general","tag-central-bank","tag-mehmet-simsek","tag-turkish"],"_links":{"self":[{"href":"https:\/\/www.nationalturk.com\/en\/wp-json\/wp\/v2\/posts\/60944","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nationalturk.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nationalturk.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nationalturk.com\/en\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nationalturk.com\/en\/wp-json\/wp\/v2\/comments?post=60944"}],"version-history":[{"count":0,"href":"https:\/\/www.nationalturk.com\/en\/wp-json\/wp\/v2\/posts\/60944\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.nationalturk.com\/en\/wp-json\/wp\/v2\/media\/60945"}],"wp:attachment":[{"href":"https:\/\/www.nationalturk.com\/en\/wp-json\/wp\/v2\/media?parent=60944"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nationalturk.com\/en\/wp-json\/wp\/v2\/categories?post=60944"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nationalturk.com\/en\/wp-json\/wp\/v2\/tags?post=60944"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}