Central Bank Reduces Interest Rates

ANKARA - The Central Bank reduced short-term interest rates three points as of Wednesday.
Releasing a statement, the Central Bank said that the bank decided to decrease short-term interest rates valid in Interbanks Monetary Market, Istanbul Stock Exchange (IMKB) and Repo-Reverse Repo Market 3 points as of Wednesday.
The statement said that overnight borrowing interest rate was decreased from 35 percent to 32 percent and overnight lending interest rate was reduced from 41 percent to 38 percent. One week borrowing interest rate was reduced from 35 percent to 32 percent.
It noted that positive inclination observed in inflation rates was a result of economic program which was being implemented.
(EÖ-AÖ) 06.08.2003