Central Bank Lowers Overnight Borrowing Rate

ANKARA (AA) - Turkish Central Bank lowered the overnight borrowing rate from 18 percent to 17 percent and its overnight lending rate from 22 percent to 21 percent on Tuesday.
     Central Bank Monetary Policy Committee held a meeting yesterday and decided to drop interest rates.
     Central Bank stated that it cut its key overnight interest rates by one percentage point. Thus, the overnight borrowing rate dropped from 18 percent to 17 percent and overnight lending rate was lowered from 22 percent to 21 percent.
     Central Bank Monetary Policy Committee holds regular meetings on the 8th day of each month as of the beginning of 2005 to assess developments in economy and inflation.
    
2005-01-11