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Turkish Central Bank Raises Interest Rate on the Banks’ Lending Mechanism

Turkish Central Bank revealed that it will keep on the Repurchase agreement (Repo) that was deferred for a week at % 8 unchanged that is according to the latest statement from the bank...

2,420
2017-01-25 Last update 2020-02-12

Turkish Central Bank Raises Interest Rate on the Banks’ Lending Mechanism

Turkish Central Bank revealed that it will keep on the Repurchase agreement (Repo) that was deferred for a week at % 8 unchanged that is according to the latest statement from the bank.

The bank has kept the interest rate at % 7.25 unchanged, while raising it on the marginal lending rate (the highest limit of interest rates) from % 8.5 to % 9.25.

In order to support the local currency by the banks and pumping it into the market in the form of loans and investments, the bank announced that it will raise the interest rate on banks’ lending mechanism from % 10 to % 11.

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