what will the rate cut be

maybemike


Joined: 12/01/2009
Posts: 188

Message Posted:
15/01/2009 11:48

what will the rate cut be tonight in turkey













maybe

keithr


Joined: 20/08/2008
Posts: 720

Message Posted:
16/01/2009 11:50

Turkish Central Bank cuts interest rates by 2%, above expectations

Turkish Central Bank cut its borrowing and lending rates by 200 basis points, more than expectations, for the third consecutive time, citing the slowdown of the economic growth. (UPDATED)



Turkish Central Bank cuts interest rates by 2%, above expectations



The bank decided to cut borrowing rate by 200 basis points to 13 percent; and its lending rate by 200 basis points to 15.50 percent to boost slowing growth.



Economists had forecasted the bank to reduce its rates by 75 basis points.



"The timing and the size of the future rate cuts would depend on the developments that will have an impact on the inflation outlook," the Monetary Police Committee said in its post-meeting statement.



The slowing domestic and external demand will help the continuation of the downside pressures on the inflation that would be affected positively by the accumulated fall on the prices of oil and other commodities, the statement ad

keithr


Joined: 20/08/2008
Posts: 720

Message Posted:
16/01/2009 18:33

HSBC already cut their 30-59 day T deposit rate from 17.45% to 14.00% !!



Who next ??



Is this the end of expats living on savings interest ???