Another interest rate decision from the Central Bank
The Central Bank has increased the discount interest rate to be applied to rediscount transactions. According to the decision published in the Official Gazette, the interest rate has been raised to 43.25 percent annually.
The Central Bank of the Republic of Türkiye has announced the Determination of Interest Rates to be Applied in Rediscount and Advance Transactions in the Official Gazette.
Accordingly, the discount interest rate to be applied to rediscount transactions for bills with a maturity of up to 3 months has been set at 43.25 percent annually, while the interest rate to be applied to advance transactions has been set at 44.25 percent annually.
Since December 1, the rate for rediscount transactions had been applied at 40.75 percent, and the rate for advance transactions at 41.75 percent.
WHAT IS THE REDISCOUNT INTEREST RATE?
The rediscount interest rate is the rate applied during the conversion of an asset into cash, and it is the rate used if no interest rate is specified on a bill or post-dated check. The rediscount rate is generally the same as the advance interest rate and is higher than the discount interest rate.
News Source: 12punto
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