Turkey has cut its interest rates

Swany



Joined: 01/12/2009
Posts: 255

Message Posted:
20/01/2011 15:14

Turkey has cut its interest rates from 6.5% to 6.25%. This is the second cut in two months and finds Turkey with another record low interest rate. We are already seeing the effect of this rate cut and the value of the TL against the pound falling currently a pound will buy you 2.52TL.

deputydawg


Joined: 30/03/2010
Posts: 1727

Message Posted:
20/01/2011 15:33

Why do I get the impression that when TL recedes against the £ it helps not one bit as the shops immediately raise their prices by more than necessary to offset the change of balance ?

kavenkoy


Joined: 10/04/2008
Posts: 1787

Message Posted:
20/01/2011 17:00

on a opposite way i heard in the bank this morning that uk will go to .75% or even to 1% by end of april



kav

cavalryman


Joined: 08/11/2010
Posts: 314

Message Posted:
20/01/2011 18:16

Not looking like that at the moment kav think it may rise at the end of the year but not that much

gooligan


Joined: 30/01/2007
Posts: 1591

Message Posted:
20/01/2011 18:22

cavalryman,it was announced yesterday that inflation shot up to 3.7%,interest rates will be raised at the next meeting in order to peg it back down a bit.