Press Release on Additional Tightening Measures (2024-13)
No: 2024-13
6 March 2024
Press Release on Additional Tightening Measures
The Central Bank of the Republic of Türkiye has taken additional tightening measures to reinforce its commitment to tight monetary policy stance. In line with this objective, the following adjustments have been made within the scope of the loan growth-based securities maintenance practice:
- The monthly growth limit for TL commercial loans(1), previously set at 2.5 percent, has been reduced to 2 percent.
- The monthly growth limit for general purpose loans, previously set at 3 percent, has been revised down to 2 percent. The 2 percent limit for vehicle loans remains unchanged.
Besides the securities maintenance practice, additional work is being carried out on introducing reserve requirements based on loan growth to enhance the effectiveness of measure pertaining to growth limits.
Moreover, further measures are being assessed to strengthen the monetary transmission mechanism.
(1) Loans targeting exports, investments, agriculture and tradesmen as well as loans extended to public institutions and in the earthquake zone will remain exempt from this restriction.
Contact
For further information, please send an e-mail to basin@tcmb.gov.tr.