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Central Bank of Turkey holds interest rates PDF Print E-mail
Friday, 18 December 2009
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Turkish interest ratesGood news for savers, as the Central Bank of Turkey (CBT) decides to keep interest rates as they are, bringing to a halt several months of cuts.  The lending rate is held at 9%.

In our reporting of Turkish interest rates, Kalkan Turkish Local News has always used the CBT lending rate, as this broadly equates to the rate you could expect to receive on savings.  However, there appears to be more good news in this regard.


The following Today Zaman article suggests that in order to attract deposits, some Turkish banks are prepared to offer higher rates, rather than pass on some of the CBT rate cuts made over recent months.  Indeed, KTLN can report that rates in the region of 10% are currently available from banks in Kalkan.

The article also quotes the General Manager of Ziraat Bank as saying that further rate cuts are unlikely.

Read the Today Zaman article here

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Last Updated on Friday, 18 December 2009