New interest rate move from the Central Bank
The Central Bank of the Republic of Turkey (TCMB) has reduced the interest rate to be paid on foreign currency free accounts held with it by 25 basis points, lowering it from 4.75 percent to 4.50 percent.
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The Central Bank of the Republic of Turkey (TCMB) has reduced the interest rate to be paid on foreign currency free accounts by 25 basis points.
According to data announced by the TCMB's Markets General Directorate, the bank has lowered the interest rate applied to the excess portion of Turkish Lira-denominated and notice foreign currency deposit account balances (the interest between the average amounts maintained and the average amounts required to be maintained) from 4.75 percent to 4.50 percent.