Turkey:
Turkey's Central Bank Raises Interest Rates
02 August 2018
Moroglu Arseven
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Turkey's Central Bank has increased interest rates applied
to rediscount transactions for promissory notes, as well as advance
transactions.
According to the changes:
- The discount interest rate applied to
rediscount transactions for promissory notes with a maximum
three-month term increases from 8.75% to 18.50%
- The interest rate applied to advance
transactions increases from 9.75% to 19.50%
The full text of the Communiqué published in Official
Gazette number 30463 on 29 June 2018 can be found here (only available in Turkish).
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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