The central bank of Turkey raised the growth rate limits for consumer loans and corporate loans, easing some of the credit restrictions previously used to strengthen monetary policy tightening. The eight-week growth cap for general purpose consumer loans was raised from 3% to 3.5%. The maximum growth rate for auto loans was raised from 3% to 3.5%. The maximum growth rate for SME lira loans was raised from 5% to 5.5%. The maximum growth rate for non-SME lira loans was raised from 2% to 2.5%. The central bank said that the framework aims to support macro-financial stability and monetary policy transmission.

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