Turkey’s Central Bank lowers interest rates
Effective June 9, 2005,
Turkey's Central Bank (TCMB) cut short-term interest rates by 0.25 points.
An announcement from the TCMB confirms that the overnight borrowing rate was reduced from 14.50% to 14.25% and the borrowing rate from 18.50% to 18.25%.
Within the application of the Late Liquidity Window framework, the overnight lending interest rate of the Interbank Money Market between 16:00-16:30 was lowered from 22.50% 22.25%; the borrowing interest rate remained unchanged at 5%, however.