Turkish Foreign Minister Mevlüt Çavuşoğlu
Turkey is one of the most suitable countries in the world for investment despite being subjected to all types of perception operations and campaigns, said Turkish Foreign Minister Mevlüt Çavuşoğlu on Monday.
“We’re working to increase foreign investments and we’re at the service of Turkish citizens,” said Çavuşoğlu at the 10th Ambassadors Conference.
We expect the U.S. to be faithful to our traditional friendship and NATO alliance, said the Turkish FM, noting that Washington should learn that “they will not achieve results with threats.”
He also pointed that Turkey has done enough to repair its ties with the U.S., stressing that the White House acted “contrary to their alliance regarding fundamental security issues.”
Banks' liquidity needs will be provided by the Central Bank of the Republic of Turkey (CBRT), the bank announced on Monday."In the framework of intraday and overnight standing facilities, the Central Bank will provide all the liquidity the banks need," the bank said in a written statement.It added: "Banks will be able to borrow foreign exchange deposits in one-month maturity in addition to one-week maturity."If needed, the Central Bank may increase lenders' current foreign exchange deposit limits -- $50 billion -- and improve utilization conditions.No deposits will be seized: Turkish FinMinTo provide banks flexibility in their collateral management, the Central Bank revised discount rates for collaterals against Turkish lira transactions, said the statement.The bank added: "Through this regulation, the discounted value of banks’ current unencumbered collaterals is projected to increase by approximately 3.8 billion Turkish liras ($555.4 million)."The Central Bank also raised foreign exchange deposit limits for lira transactions of lenders from €7.2 billion ($8.2 billion) to €20 billion ($22.8 billion).The Central Bank also lowered Turkish lira reserve requirement ratios by 250 basis points for all maturity brackets, and reserve requirement ratios for non-core FX liabilities by 400 basis points for up to three-year maturities.Russia to increase use of local currencies for tradeThe bank also announced that it will continue its intermediation in the foreign exchange deposit market."Accordingly, through the intermediation of the Central Bank, banks will be able to borrow from and lend to each other at the FX deposit market as per the rules set by the Implementation Instructions on the Foreign Exchange and Banknotes Markets," it added.It said: "Banks will continue to purchase foreign bank notes from the Central Bank via foreign exchange transactions within their pre-determined limits at the Foreign Exchange and Banknotes Markets."The bank also said that it raised the maximum average maintenance facility for foreign exchange liabilities to 8 percent."With this revision, approximately 10 billion Turkish liras ($1.46 billion), $6 billion, and $3 billion equivalent of gold liquidity will be provided to the financial system," it added.Market depth and price formations will be monitored by the Central Bank closely, which will take all necessary measures to protect financial stability, if needed, said the bank.
Turkey Central Bank to provide all liquidity banks need
Banks' liquidity needs will be provided by the Central Bank of the Republic of Turkey (CBRT), the bank announced on Monday after the Turkish lira experienced a sharp decrease in value following an escalating row between NATO allies Ankara and Washington.
"In the framework of intraday and overnight standing facilities, the Central Bank will provide all the liquidity the banks need," the bank said in a written statement.
Turkey and the U.S. are currently experiencing rocky relations following Washington’s imposition of sanctions on Interior Minister Suleyman Soylu and Justice Minister Abdulhamit Gül for not releasing American Pastor Andrew Brunson, who faces terrorism charges in Turkey.
President Recep Tayyip Erdoğan on Sunday criticized the U.S., saying Turkey will say “goodbye” to those, who prefer terrorists as their strategic partner.Erdoğan was speaking at ruling Justice and Development (AK) Party’s meeting in northeastern Turkish province of Trabzon.“We will say goodbye to those, who sacrifice its strategic partnership and alliance with a country of 81 million people on the altar of its relations with terror organizations," he said.Turks sprint to support national currency after Erdoğan callTurkish senior official warns of perception operationTurkey and the U.S. are currently experiencing rocky relations following Washington’s imposition of sanctions on Interior Minister Suleyman Soylu and Justice Minister Abdulhamit Gul for not releasing American Pastor Andrew Brunson, who faces terrorism charges in Turkey.U.S. President Donald Trump on Friday ramped up his attack on Turkey by doubling U.S. tariffs on Turkish aluminum and steel imports to 20 percent and 50 percent, respectively.No deposits will be seized: Turkish FinMinErdoğan said Turkey would turn towards new markets, new partners and alternative financial tools.“If you pressure us through the dollar, we will look for other ways to carry out our works,” he said.“We will give our response to the person -- who declares war against the whole world including our country -- by turning towards new markets, new partners and new alliances," Erdoğan added.Terming the recent U.S. tariffs on Turkey as an “economic war,” the Turkish president said: “We’ve seen your game and we will challenge it.”The aim of the recent U.S. pressure is “to seize Turkey in every field from finance to politics,” the president noted.“We will not surrender,” Erdoğan asserted. “We will continue producing. We will continue increasing our exports,” he said.
Erdoğan slams US for preferring terrorists as partner
A Turkish senior official late Sunday warned of a perception operation over the Turkish president's remarks in northern province of Trabzon. Turkish Presidency Communications Director Fahrettin Altun tweeted that President Recep Tayyip Erdoğan said early the same day in Trabzon it was responsibility of both the state and industrialists and merchants to keep the nation on its feet, otherwise they would have to implement plan B or plan C.No deposits will be seized: Turkish FinMinAltun said a perception operation is going on over those remarks of Erdoğan."This perception operation is part of the economic war that our country is facing," Altun tweeted.He added that the Turkish president did not mention seizure of deposit accounts anywhere in his speech in Trabzon.Germany slams US tariffs decision against TurkeyAltun said Erdoğan's words were a warning against the exit of foreign currency from Turkey.He said as Erdogan did not give any detail about plan B or plan C, it is ''unacceptable'' to produce imaginary scenarios and try to disturb market actors."Turkey is facing an economic war. However, our economy is strong, we will win this war in unity of the nation with the state!" Altun added.Turks sprint to support national currency after Erdoğan call'US sanctions instigate economic war'In his speech, Erdogan, referring to industrialists, said, ''Do not prefer to rush to banks and buy foreign currency. You would do the wrong thing if you resort to such options just to be on the safe side. You should know that it is both our and industrialists' and merchants' responsibility to keep this nation on its feet. Otherwise, we would have to implement plan B or plan C.''
Turkish senior official warns of perception operation
U.S. President Donald Trump on Friday ramped up his attack on Turkey by doubling U.S. tariffs on Turkish aluminum and steel imports to 20 percent and 50 percent, respectively.
Erdoğan challenges US
Turkish President Recep Tayyip Erdoğan in his turn said Turkey would turn toward new markets, new partners and alternative financial tools.
“If you pressure us through the dollar, we will look for other ways to carry out our works,” he said.
Terming the recent U.S. tariffs on Turkey as an “economic war,” the Turkish president said: “We’ve seen your game and we challenge it.”
The aim of the recent U.S. pressure is “to ensnare Turkey in every field from finance to politics,” the president noted.
“We will not surrender,” Erdoğan asserted.