CBRT Raises the Swap Rate

CBRT Raises the Swap Rate CBRT raises the swap rate. Following the policy rate, the swap rate was also increased to 15 percent. Transactions of Gold/Currency swaps within the Central Bank of the Republic of Turkey (CBRT), interest rates applied to TL was 15 percent. The swap transaction interest, which was previously applied as 13.25 percent, was increased to 15 percent. In the current situation, swap transactions are carried out by the CBRT with one-week quotation method and 1-3-6 months traditional method auctions. In addition, the CBRT performs swap transactions in the BIST Swap Market in line with the interest rates applied in the quotation swap market. At the Inflation Report meeting, it was noted that the funding amount provided by the CBRT within the scope of all swap facilities constituted approximately 60 percent of the system's funding need. In addition, analysts said that after the decisions taken at the MPC meeting yesterday, the CBRT equates the interest applied to the Turkish lira with the policy rate, as expected. The CBRT, which raised its policy rate to 15 percent at its meeting yesterday, used the following statements in its decision: “CBRT has decided that all funding will be made at the one-week repo interest rate, which is the main policy tool. ''