Turkey's ability to maintain an atmosphere of stability and trust prompted the Central Bank to drop the overnight inter-bank rate, which was 44 per cent two years ago, to 20 per cent on Thursday.
Finance Minister Kemal Unakitan hinted that the interest rate would continue to decline.
Unakitan emphasised that the decline in interest and the provision of an atmosphere of trust would be a great encouragement for the private sector. He added that the falling interest rate would spur an increase in investment and employment opportunities, which in turn would create an explosion of demand in Turkey.
Source: Zaman
