Turkish One-Week Repo Rate Cut to 9.5% from 10.0%
May 22, 2014
Citing lower market interest rates, less uncertainty in general, and improved risk premium indicators, officials at the Central Bank of the Republic of Turkey reduced the hey repo interest rate, which had been previously at 10.0% since a 550-basis point increase in mid-January. The overnight lending and borrowing rates were left unchanged at 12% and 8%, respectively. Officials noted that the monetary stance will remain tight even after today’s action and called the pace of lending growth “reasonable.”
Copyright 2014, Larry Greenberg. All rights reserved. No secondary distribution without express permission.
Tags: Turkish Monetary Policy
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