Coronavirus: Turkish central bank doubles debt purchase limit for 2020

Police officers check a cyclist in the Karanfil street, in Ankara, on April 11, 2020, during the 48-hour curfew imposed by the government to stem the spread of the coronavirus. (AFP)

Turkey's central bank on Friday doubled its effective limit on asset purchases this year, as the bank hinted it would do last month, as a measure to backstop financial markets in the face of the coronavirus fallout.

In a statement, the bank said asset purchases this year could be up to 10 percent of its total assets, up from 5 percent.

The central bank also added a new limit on primary dealers' ability to sell government debt to it.

Read more:

Erdogan: Turkey will overcome coronavirus in 2-3 weeks

Coronavirus: Turkey bans citizens from leaving home for 48 hours

Coronavirus: Erdogan rejects Turkish minister’s resignation after lockdown criticism

Last Update: Friday, 17 April 2020 KSA 17:40 - GMT 14:40