Skip to content
Subscriber Only
Markets

Turkey Boosts Funding Costs to Avoid Outright Rate Hikes

  • Central bank offering lenders funding through pricier window
  • President Erdogan has persistently called for rates to be cut
Customers exchange currencies at a foreign currency exchange bureau in Istanbul, on Aug. 11.

Customers exchange currencies at a foreign currency exchange bureau in Istanbul, on Aug. 11.

Photographer: Kerem Uzel/Bloomberg
Updated on

Follow us @middleeast for more news on the region.

Turkey’s central bank offered the nation’s lenders funding through a more expensive channel in the latest effort to reverse declines in the lira without raising its key interest rate.