Calis Beach and Fethiye Turkey Discussion Forum
Information and Services in Turkey Section => Banks, Interest, Money Transfers, Insurance => Topic started by: Scunner on January 28, 2014, 22:24:49 PM
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The Turkish central bank has raised its overnight lending rate to 12% from 7.75% after an emergency meeting.
It also increased the overnight borrowing rate to 8% from 3.5%.
http://www.bbc.co.uk/news/business-25939187
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Sh1t or bust methinks...
JF
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More than the markets expected - immediate impact is good but will it be sustained - fingers crossed :-)
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Sh1t or bust methinks...
JF
Yep, bugger the economics, that pretty much sums it up...
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Was it 31 economists who predicted on average about 2% - tells you how much of a surprise this will be!
We may see something like 3.50 early tomorrow - but then which way ?????
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It will head straight back up when Erdogan removes the Central Bank bosses tomorrow
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That will have to wait until Friday.Reg is on a 2 day jolly in Iran :)
However he did say of the Central Bank "they are responsible for anything that could arise."
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That's someone else added to the blame list. ! ;)