CBRT raises rediscount interest rates
The Central Bank, which increased the policy rate by 500 basis points at its October meeting, has also raised the discount and advance interest rates to be applied in rediscount transactions by 500 basis points.
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According to the Central Bank's communiqué published in the Official Gazette, the discount interest rate to be applied in rediscount transactions against bills with a maturity of up to 3 months has been set at 35.75 percent per annum, and the interest rate to be applied in advance transactions has been set at 36.75 percent per annum.
Since September 28, 2023, the rate for rediscount transactions had been applied at 30.75 percent, and the rate for advance transactions at 31.75 percent.
The interest rates have come into effect as of today.