Turkish Central Bank Lowers Benchmark Rate to 8.75%
June 17, 2009 by admin · Leave a Comment
Turkey’s central bank reduced its benchmark interest rate by half a point, its eighth consecutive lowering, and said “clearer signs of an economic recovery” may lead to a pause in the cuts.
The bank in Ankara reduced its overnight borrowing rate to a record 8.75 percent, according to an e-mailed statement today. It had been forecast to cut the rate by a quarter-point, according to the median estimate of 19 economists surveyed by Bloomberg. The bank will release minutes of the meeting within eight working days. Read more…
