Officials from the Central Bank of Turkey are due to meet today with Turkish banks to prepare a plan to deal with possible new market turbulence next week, as a result of the arrest of Ekrem Imamoglu, according to sources cited by the Bloom.

Officials will consider any moves that could be coordinated with Turkish banks while evaluating the impact of the recent sell-off In Turkish markets, people with knowledge of the matter told the agency who asked not to be named as the meeting was private.

Turkey’s central bank refused Bloomberg’s request to comment.

The meeting, scheduled to take place on Sunday afternoon, local time, marks one of the first high -level contacts between the country’s bankers and the monetary authority since the popular Mayor of Constantinople, Ekrem Imamoglou, was held under this week. ‘Dip’ in the markets.

The pound, the Turkish Stock Exchange and the country’s bonds have then arrived from the largest fall worldwide as investors are trying to evaluate the risk of a possible change of rotation by the country’s economic policy managers.

The Minister of Economy and Finance Mehmet Simsek He had a meeting with the bankers on Friday, where he informed them that policymakers would use all the tools available to mitigate, as he said, a “temporary” market volatility.

It is noted that the Turkish Central Bank has already reinforced its “defense mechanism” to protect the Turkish pound last week to ensure that financial conditions remain “tight”.

Specifically, the central bank increased one day’s borrowing rate by 200 basis pointsto 46%, raising the average funding costs for banks.

At the same time, he suspended a one week’s cheapest repos for an indefinable period of time.

He also announced that he would proceed to Auction lines of 91 -day liquidity linesthe first such energy for almost two decades, with the aim of absorbing the redundancies in the pound.