Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    Turkey cuts rates for sixth straight month amid ratings worries

    Lobo
    Lobo
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    Join date : 2013-01-12

    Turkey cuts rates for sixth straight month amid ratings worries Empty Turkey cuts rates for sixth straight month amid ratings worries

    Post by Lobo Tue 23 Aug 2016, 2:47 pm

    Turkey cuts rates for sixth straight month amid ratings worries




    Aug 23 Turkey's central bank cut borrowing costs for the sixth straight month on Tuesday, lowering its overnight lending rate by 25 basis points despite high inflation and worries about possible credit rating downgrades.

    As expected, the bank cut the highest of the multiple interest rates it uses to set policy to 8.5 percent. It left its benchmark one-week repo rate unchanged at 7.5 percent. Fifteen of 17 economists in a Reuters survey forecast a 25 basis point cut in the overnight rate, while two expected a cut of 50 basis points.

    President Tayyip Erdogan, who wants stronger consumption-led growth, has made repeated calls for cheaper credit. He told commercial lenders this month they should not be charging high interest rates in the aftermath of a failed coup and promised action against those who "go the wrong way".

    The attempted putsch on July 15 and its aftermath have increased uncertainty. Ratings agency Fitch lowered its outlook to negative from stable on Friday, while Moody's said on July 18 it was putting Turkey's credit rating on review for a possible downgrade to junk status. (Reporting by Daren Butler, Humeyra Pamuk and; Writing by Nick Tattersall; editing by John Stonestreet)

    http://www.reuters.com/article/turkey-cenbank-rates-idUSEONG8M0SK

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