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The Central Bank of Turkey lowers rates once more PDF Print E-mail
Thursday, 19 November 2009
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Interest ratesMembers of the Turkish Monetary Policy Committee (MPC) met earlier today, Thursday 19th November, and decided to cut interest rates once more.

The lending rate is reduced from 9.25% to 9.00%.  This represents roughly what you may earn with your savings in a time deposit with a Turkish bank.

This time, the cut was only 0.25%, compared to bigger cuts of at least 0.5%, which have been consistently made over recent months.


Despite this smaller cut, the MPC has once again signalled that further fine tuning downwards is likely.  However, savers will be hoping that we are getting near the bottom of this slide in rates.

To see the Kalkan Turkish Local News report on the previous interest rate announcement in October, click here.

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Last Updated on Thursday, 19 November 2009