Central Bank Decreases Interest Rates In Tl Deposits From 25 To 23 Percent

ANKARA - Central Bank decreased on Tuesday the interest rates valid for required reserve ratio in TL deposits of banks from 25 to 23 percent.
Issuing a statement, the Central Bank stated that the Bank started to pay interests regarding the required reserve ratio in return to the TL deposits which banks keep in Central Bank as of August 8, 2001 and for foreign currency deposits as of May 24, 2002 in order to contribute to banks' working effectively and productively. The interest rate for that was determined as 25 percent on July 9, 2002, Bank noted adding that it decided to decrease that interest rate to 23 percent as of August 19, 2003.
(Öª) 19.08.2003