The Central Bank of the Republic of Türkiye announced three Turkish-lira liquidity steps on 17 September 2026 after reviewing market conditions. It will increase the amount supplied through weekly repo auctions as liquidity conditions require, update banks' borrowing limits in the Interbank Money Market to reflect current balance-sheet sizes, and reduce collateral haircut rates after a review. The announcement changes the operational supply and collateral framework; it did not cut the 37% policy rate or promise a particular exchange rate, loan rate or asset-price outcome.
The three measures operate through different channels
More weekly repo funding can increase the lira liquidity supplied to eligible counterparties. Updated interbank borrowing limits change how much banks may borrow within the central bank's market, while lower collateral haircuts can increase the lending value assigned to eligible assets. The exact effect depends on auction amounts, collateral rules, bank demand and market conditions.
This is not a new policy-rate decision
TCMB's Monetary Policy Committee kept the one-week repo auction rate at 37% on 10 September. The 17 September notice concerns liquidity management around that framework. Treating it as an automatic rate cut, a guarantee of cheaper credit or a reversal of monetary policy would go beyond the official announcement.
Bank funding and customer pricing are not identical
A bank's access to central-bank liquidity is only one input into deposit and loan pricing. Credit risk, maturity, regulation, capital, funding mix and competition also matter. International residents should therefore verify the actual deposit, mortgage, business-loan and transfer terms offered to them rather than infer a retail rate from the headline.
Currency and market risk remain
The measures were announced after sharp financial-market moves, including the BIST 100 circuit breaker on 16 September. Additional liquidity may support orderly market functioning, but the central bank did not guarantee a stock-market recovery or a stable lira. Returns for foreign investors still depend on both the Turkish asset and the exchange rate at entry and exit.
Anadolu Agency — report on the TCMB announcement, 17 September 2026 →