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

Title: Turkish central bank raises lending rate to 12%
Post by: Scunner on January 28, 2014, 22:24:49 PM
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
Title: Re: Turkish central bank raises lending rate to 12%
Post by: JohnF on January 28, 2014, 22:27:23 PM
Sh1t or bust methinks...

JF
Title: Re: Turkish central bank raises lending rate to 12%
Post by: Ian on January 28, 2014, 22:34:01 PM
More than the markets expected - immediate impact is good but will it be sustained - fingers crossed :-)
Title: Re: Turkish central bank raises lending rate to 12%
Post by: Scunner on January 28, 2014, 22:41:42 PM
Quote from: JohnF on January 28, 2014, 22:27:23 PM
Sh1t or bust methinks...

JF

Yep, bugger the economics, that pretty much sums it up...
Title: Re: Turkish central bank raises lending rate to 12%
Post by: Ian on January 28, 2014, 22:48:08 PM
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 ?????
Title: Re: Turkish central bank raises lending rate to 12%
Post by: Scunner on January 28, 2014, 22:51:04 PM
It will head straight back up when Erdogan removes the Central Bank bosses tomorrow
Title: Re: Turkish central bank raises lending rate to 12%
Post by: yabanci on January 29, 2014, 08:11:15 AM
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."
Title: Re: Turkish central bank raises lending rate to 12%
Post by: kevin3 on January 29, 2014, 09:56:31 AM
That's someone else added to the blame list. !       ;)