Central Bank Rate

[mike77777777]

I read that the low interest rate at the central bank has been doubled to around 12%....The low was a measure it seems to stop big investors making a quick buck....Now that they have gone back up are we likely to see our savings rates rise in our ordinary investment accounts.

Thanks Mike

[karaokemark]

Not read that anywhere Mike they did raise the overnight lending rate between banks earlier this week.
Mark

[mike77777777]

I think they raised it on Wednesday night. Do they sometimes raise it just for one night..

[Ian]

This is related to the rate that the banks pay to borrow money overnight like the LIBOR

See: http://online.wsj.com/article/SB10001424052970203687504576654481213770292.html

http://www.bloomberg.com/news/2011-11-03/turkish-inflation-accelerates-on-lira-slide-challenging-bank.html

Ian

[mike77777777]

Thanks for that info Ian