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Tag Archives: Central Bank

Turkish Interest Rates Lowered Again

Guarding against Lira appreciation the Turkish central bank chopped a further 50 basis points off its benchmark interest rate today and also cut overnight borrowing and lending rates. The bank cut the one-week repo policy rate from 5.5%to 5%, the borrowing rate to from 4.5% to 4% and the lending...

Posted on 16 April 2013

Turkish Central Bank Cuts Rate Further

The Turkish Central Bank has again cut its rates as inflation continues to slow in the rapidly growing economy. The bank said in an emailed statement that it was reducing its one week repo lending rate by 0.5 percentage points, bringing it to a record low. Recently the banks Deputy...

Posted on 17 December 2010

Turkish Central Bank Leaves Rate Unchanged

The Turkish Central Bank’s Monetary Policy Board kept the benchmark interest rates unchanged Thursday, with the overnight borrowing rate at 6.50 percent and lending rate at 9 percent. This is positive news for anyone considering buying a property in Turkey. Because Turkey made banking reforms in the 2001 crisis, liquidity...

Posted on 20 August 2010

The Future is Bright, the Future is Turkey

Today further news emerged that the Turkish economy is firmly in recovery. The economy contracted 3.3% in the third quarter, which is a lot slower than in previous quarters. The annualised contraction for this year is now expected to be 6%. Also positive: the government has forecast 3.5% growth next...

Posted on 10 December 2009

Turkey Central Bank Cuts Rates Again, Borrowing now at Record Low

The Turkish central bank has cut the key interest rate even further in a bid to shore up the recent economic upturn. The CB cut rates by a further 25 basis points, bringing borrowing rates down to a record low of 6.50 percent and lending rates to 9 percent. This,...

Posted on 27 November 2009