Calis Beach and Fethiye Turkey Discussion Forum

Information and Services in Turkey Section => Banks, Interest, Money Transfers, Insurance => Topic started by: mike77777777 on October 28, 2011, 15:37:33 PM

Title: Central Bank Rate
Post by: mike77777777 on October 28, 2011, 15:37:33 PM

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

Title: Central Bank Rate
Post by: karaokemark on October 28, 2011, 15:48:02 PM

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

Title: Central Bank Rate
Post by: mike77777777 on October 29, 2011, 15:37:50 PM

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

Title: Central Bank Rate
Post by: Ian on November 03, 2011, 15:29:28 PM

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

Title: Central Bank Rate
Post by: mike77777777 on November 03, 2011, 18:36:51 PM

Thanks for that info Ian