Turkey cbank cuts overnight lending rate
Istanbul, March 26, 2013
Turkey's central bank cuts its overnight lending rate to 7.5 percent from 8.5 percent on Tuesday but kept its overnight borrowing rate and benchmark rate on hold.
The bank held its overnight borrowing rate at 4.50 percent and its one-week repo policy rate, which it cut by 25 basis points in December, unchanged at 5.50 percent.
All 14 economists in a Reuters poll expected the bank to keep the main repo rate on hold, with most also forecasting all three rates unchanged. One expected a 25 basis point cut in the borrowing rate - the lower end of the rate corridor - while three expected a 25 point cut in the lending rate. – Reuters