Treasury and Finance Minister Mehmet Şimşek said that selective credit and quantitative tightening steps from the Central Bank are aimed at reducing inflation in the medium term.
Şimşek said on Twitter: “We continue to take and implement measures in line with the aim of improving our country’s balance of payments, reducing public deficits and reducing inflation. The decisions announced by the Central Bank today are aimed at reducing the current account deficit and reducing inflation in the medium term. We will continue to channel our limited resources to exports and investments.” used the phrase.
In order to support the efficient use of financial resources, the CBRT lowered the growth limit from 3 percent in vehicle loans to 2 percent, and also increased the monthly maximum interest rate applied to credit card cash usage and overdraft accounts to 2.89 percent.