{"id":23034,"date":"2011-08-09T13:52:00","date_gmt":"2011-08-09T17:52:00","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?guid=22efcc35f5f20699b1077802943b8351"},"modified":"2011-08-09T13:52:00","modified_gmt":"2011-08-09T17:52:00","slug":"central-bank-of-turkey-reduces-fx-lending-rates","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2011\/08\/09\/central-bank-of-turkey-reduces-fx-lending-rates\/","title":{"rendered":"Central Bank of Turkey Reduces FX lending Rates"},"content":{"rendered":"

The Central Bank of the Republic of Turkey<\/a> announced a 100 basis point cut in the US dollar lending rate to 4.50% from 5.50%, and the Euro to 5.50% from 6.50%.  The interest rate changes apply to foreign exchange transactions which the Central Bank is a party to, and come into effect as of 9 August 2011.  The Bank commented: “In the upcoming period, developments regarding the foreign exchange markets will be closely monitored and necessary measures will be taken in a timely fashion.”  The move comes after the central bank cut its benchmark 1-week repo rate last week by 50 basis points<\/a> to 5.75% after holding an emergency meeting.<\/span><\/span><\/span>
<\/span><\/span><\/span><\/span><\/span>
<\/a> <\/a>Previously the Turkish central bank held its benchmark interest rate unchanged<\/a> during its July meeting this year, while the bank last cut its benchmark interest rate by 25 basis points to 6.25% in January<\/a> this year.  The Turkish central bank also adjusted required reserves<\/a> in late July.  Turkey reported annual consumer price inflation of 6.2% in June, off from 7.2% in May, but up from 4.26% in April, and 3.99% in March, and above the Bank’s full year inflation target of 5.5%.  The Turkish Lira last traded around 1.775 against the US dollar.<\/p>\n

www.CentralBankNews.info<\/a><\/span><\/span><\/span><\/span><\/span> <\/p>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

The Central Bank of the Republic of Turkey announced a 100 basis point cut in the US dollar lending rate to 4.50% from 5.50%, and the Euro to 5.50% from 6.50%.  The interest rate changes apply to foreign exchange transactions which the C…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-23034","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/23034","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=23034"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/23034\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=23034"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=23034"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=23034"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}