The Central Bank of the Republic of Turkey (CBRT), which has so far attracted excess liquidity in the market with overnight and weekly deposit auctions, will also open 30-day deposit auctions on the days it deems necessary as of January 24.
According to the information obtained from the officials, the deposit purchase auction with a maturity of February 21, 2025, which will be opened at 13:45 today, will be 100 billion liras.
An overnight deposit auction of 900 billion liras and a 1-week deposit auction of 20 billion liras will also be held today.
The last time the CBRT held 30-day deposit auctions was in 2004.
“Liquidity conditions will be closely monitored and sterilization tools will continue to be used effectively with “additional measures”” in the first Monetary Policy Committee decision text of the year.
As of today, the excess liquidity in the market was at a record high of 1.35 trillion liras.