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| Have Turkish interest rates bottomed out? |
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| Wednesday, 16 February 2011 |
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This month, they have decided to keep all key rates on hold, including the policy rate, at 6.25%, and the lending rate, at 9%. If you wish to see the CBT announcement in full, click on the following link: CBT Interest Rate Announcement Some financial analysts are saying that this could mark the lowest point for Turkish interest rates, and a slight increase in rates is predicted for the third quarter of 2011. This decision is set against a backdrop of sustained demand in the domestic economy, but weak demand from abroad. Over recent months, the CBT has tried to stimulate Turkish exports, by managing the Turkish exchange rate down against major currencies. A weaker lira means exported goods are cheaper. It also means that tourists visiting Kalkan can get more lira for their pound, than they could a few months ago. If you want to know what rates Kalkan banks are currently offering to savers, don't forget you can see live rates by clicking on the links on the right hand side of the KTLN home page. KTLN - your window on Kalkan Turkey. Katie-Ellen |
| Last Updated on Wednesday, 16 February 2011 |
The Monetary Policy Committee of the Central Bank of Turkey (CBT) met yesterday, the 15th February, to decide what should happen with interest rates.