"Turkey Leaves Interest Rate Unchanged for 12th Month on Slowing Inflation
By Steve Bryant - Nov 11, 2010 12:50 PM ET
Turkey’s central bank left its benchmark interest rate unchanged, marking a year of record-low borrowing costs that have fueled a surge in economic growth.
The central bank in Ankara kept its one-week repo lending rate at 7 percent, according to an e-mailed statement today. That matched the estimate of all 13 economists in a Bloomberg survey. It also slashed its overnight borrowing rate to 1.75 percent from 5.75 percent, saying it wants to encourage banks to lend to one another at longer maturities rather than depositing cash with the central bank. Minutes of the meeting are due to be released within eight working days. "
More:Turkey Leaves Interest Rate Unchanged for 12th Month on Slowing Inflation - Bloomberg
