[ad_1]
Quit press
The Turkish central bank announced Thursday a decline of 3.25% in the redemption rate of one week.
The announcement of new interest rates comes after a meeting of the Monetary Policy Committee at the Central Bank of Turkey, chaired by the province of Murat Uysal, to reduce the interest rate of 19, 75 to 16.50%.
According to a statement by the Central Bank of Turkey in this regard, the interest rate was reduced by 325 basis points on the redemption (repo) for one week, from 19.74% to 16:50, according to "Anatolia".
The release points out that recently announced data on the Turkish market show a continued moderate recovery in economic activity, highlighting the continued contribution of net exports to growth in the first half of this year.
He stressed that investment would remain low and that the contribution of private consumption would gradually increase, underlining the continued upward trend of exports of goods and services, due to the evolution of competitiveness, despite the weakness global growth indicators.
The statement adds that the strong trajectory in the tourism sector in particular supports economic activity through direct and related sectors, while ensuring that net exports continue to contribute to growth and development. the gradual recovery of the economy with the downward trend of inflation and the improvement of financial conditions.
This decision comes several weeks after a similar decision to reduce interest rates from 24 to 19.75%, following the dismissal of Turkish President Recep Tayyip Erdogan, former governor of the Central Bank, and the appointment from Murat Owisal.
The Central Bank of Turkey should continue to reduce interest rates to less than 14% before the end of this year, in order to support the economic objectives set by the country under the programs and reforms announced earlier in this year. field.
Following the announcement of interest rate cuts, the Turkish lira experienced a partial rise against the dollar.
Source link
