Following its evaluation of the latest economic developments, the Central Bank (CB) has decided to reduce interest rates for the fifth time this year. The overnight and weekly interest rates have dropped by 0.5 points. The total reduction since the start of the year is now 3.5 points. With a warning that recent cost developments will affect inflation, the Bank reduced the overnight interest rate to 18.50 per cent from 19 per cent and the weekly interest rate to 14.50 per cent from 15 per cent. Source: Zaman
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