Baku. 27 January. REPORT.AZ/ Turkish Parliament (TBMM) approved law on “Monetary policy meetings of Central Bank”.
Report informs referring to the Bloomberg.
According to the law, Central Bank of Turkey (CBT) will hold 8 instead of 12 annual meetings on monetary policy. Meetings will be held once in approximately 45 days.
Moreover, CBT chairman is eligible to request extraordinary meetings to discuss urgent developments in financial market.
Expert group of Report News Agency says that adoption of new law can stimulate volatility in financial market. Thus, extreme instability prevails in Turkey’s currency market. As CBT held its last meeting on January 24, next meeting should be scheduled to March 9-10. But CBT chairman can call an extraordinary meeting to address possible fluctuation.