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ANKARA - ''Bank credit card interest rates will go down with competition in the Turkish market,'' said Acting Central Bank Governor Erdem Basci today.
Basci met members of the Economy Correspondents' Association (EMD) at breakfast in Ankara.
Talking on several issues, Basci stressed that the Central Bank can not change the interest rates that private banks charge on their credit cards.
''What the Central Bank can do is to set the maximum interest rate that banks can implement,'' noted Basci.
The maximum interest rates that banks can apply will be effective as of June 1st, 2006.