ANKARA - The Central Bank decreasing short-term interest rates valid in Interbanks Monetary Market, Istanbul Stock Exchange (IMKB) and Repo-Reverse Repo Market 3 points as of Wednesday.
Releasing a statement, the Central Bank said that overnight borrowing interest rate was decreased from 41 percent to 38 percent and overnight lending interest rate was reduced from 48 percent to 45 percent. One week borrowing interest rate was reduced from 41 percent to 38 percent.
ITS DECISION ON DECREASE IN INTEREST RATES DOES NOT AIM TO AFFECT FIGURES EXCLUDING INFLATION
The Central Bank said that its decision on decreasing short-term interest rates 3 points did not aim to affect figures excluding inflation.
Releasing a statement, the Central Bank said that the bank aimed to ensure price stability and stressed that its first priority was to reach inflation target which was determined together with the government.
The Central Bank said that inflation rate was not a figure which acted independently from other figures in economy.
Stating that the aim of decreasing interest rates was not an intervention in level which foreign exchange rate reached, the bank added that the aim was only to approach an interest rate which was in harmony with inflation target and signal publicly that ``general course`` was positive in fight against inflation.
(EÖ-UK-AY) 04.06.2003