Turkey’s Central Bank raises upper limit of interest rates
by ChemOrbis Editorial Team - content@chemorbis.com
According to media reports, Turkey’s Central Bank raised the upper limit of its interest rates by 0.75 base points to 9.25 from 8.5 while it kept the policy rate unchanged.
The bank said that the domestic demand is still relatively weak while the increasing demand from the European Union had a positive effect on the country’s exports, which is expected to perpetuate the rebounding in the business activities together with the help of the contribution of the incentives and measures taken.
The lira is reportedly the currency which has weakened the most in the emerging markets following the deteriorating investor sentiment since the failed coup in July, according to economists.
The bank said that the domestic demand is still relatively weak while the increasing demand from the European Union had a positive effect on the country’s exports, which is expected to perpetuate the rebounding in the business activities together with the help of the contribution of the incentives and measures taken.
The lira is reportedly the currency which has weakened the most in the emerging markets following the deteriorating investor sentiment since the failed coup in July, according to economists.
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