Which Liquidity Steps did the CBRT Take after the Interest Rate Decision?

Which Liquidity Steps did the CBRT Take after the Interest Rate Decision? Central Bank of the Republic of Turkey, decided to increase interest rates by 200 basis points at a meeting on Thursday. So, which liquidity steps did the CBRT take after the interest rate decision? Here are the details. According to research compiled by Bloomberg HT author Cumhur Örnek, CBRT decided to increase interest rates by 200 basis at the meeting held yesterday. With these developments, the CBRT took various liquidity steps through many different channels. With a sales order issued by the CBRT, a 100 billion TL sales order was entered into the Borsa Istanbul repo market with an overnight interest of 11.75 percent. Previously, the interest rate in the Borsa Istanbul repo market was 9.75 percent. The Central Bank raised the interest rate used in the weekly foreign currency swap window from 9.75 percent to 10.25 percent, bringing the policy rate and foreign currency swap rates to the same position. The Central Bank returned to its weekly repo auctions on Friday, giving  5 billion TL at the policy rate of 10.25 percent. The CBRT has not held a weekly repo auction since 6 August 2020. On the other hand, the CBRT did not open the traditional monthly repo auction today. Funding from this channel has a redemption schedule from September 25 to October 22, which corresponds to TL 10 billion per day, although October 15 is not included. On October 15, there was a tender worth 5 billion TL, and the total value of these auctions was recorded as 195 billion TL. Bankers argue that funding through this channel may decrease in the future; but they stated that they did not think they were completely out of the game.