June 11 (SeeNews) - Turkey's central bank said on Tuesday it will start short-term additional monetary tightening to mitigate the influence of the excessive volatility in the foreign exchange market on price and financial stability.
The central bank will implement the tightening via open market operations and reducing liquidity provided to the market at the policy rate, it said in a statement.
The bank also said it may hold intraday foreign exchange sales auctions or foreign exchange interventions when necessary.
The duration of the implementation will depend on the progress of foreign exchange market volatility, the central bank added.