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    TURKISH CB HOLDS BORROWING RATE STEADY, CUTS LENDING RATE 50 BPS

    Hürriyet Haber
    22.10.2008 - 19:58 | Son Güncelleme:

    Turkey's central bank held the benchmark interest rates steady at 16.75 percent as expected on Wednesday, however decreased the lending rate 50 basis points to 19.75 percent a statement issued on the central bank's official website said.

    The central bank decreased the lending rate 50 basis points to 19.75 percent following its October Monetary Policy Committee meeting.

    The Turkish Central Bank had increased interest rates by 1.5 percentage points in the April-July period to fight inflation fueled by rising global oil and food costs but held rates steady in August and September.

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