Turkish Central Bank Holds Meeting With Lenders, Haberturk SaysCagan Koc and Constantine Courcoulas
Turkey’s central bank is holding an extraordinary meeting with bank executives to discuss ways to minimize the market impact of the coup attempt, the Haberturk newspaper reported.
The bank convened members of the Banks Association of Turkey, the Istanbul-based newspaper said, without saying where it got its information about the meeting.
Turkey’s lira plunged the most against the dollar in eight years on Friday as tanks rolled through the streets of Ankara and Istanbul, while warplanes and helicopters circled overhead. Trading in stocks and bonds had already halted for the day and is scheduled to resume on Monday.
The takeover attempt launched Friday night by elements within the military was quashed the following day.
The central bank told lenders late Friday that it kept offering liquidity even though it was a weekend, Haberturk reported.
The bank is due to meet on Tuesday to decide on borrowing costs. It has lowered its overnight lending rate by 175 basis points since March.