1.  The CBRT has decided to cut short -term interest rates applied at the CBRT
Central bank: tcmb | Type: decision | Date: 2005-04-11

No:2005-14 11 April 2005
PRESS RELEASE
CBRT INTEREST RATES
1. The CBRT has decided to cut short -term interest rates applied at the CBRT
Interbank Money Market and at the Istanbul Stock Exchange Repo -Reverse Repo Market
starting from 11 April 2005 as follows:
a) Overnight Interest Rates: The borrowing interest rate is lowered to 15 percent
from 15.50 percent, and the lending interest rate to 19 percent from 19.50 percent.
b) Other Maturities: The one-week borrowing interest rate is lo wered to 15 percent
from 15.50 percent.
c) Late Liquidity Window Interest Rates: Within the framework of the Late
Liquidity Window Facility, the CBRT overnight lending interest rate applicable between
16:00 – 16:30 hours at Interbank Money Market is lowered to 23 percent from 23.50 percent.
Borrowing interest rate of 5 percent remains the same.
d) The interest rates applicable to overnight and one -week maturity borrowing
facilities provided for primary dealer banks via repo transactions within the framewor k of
open market transactions are lowered to 17 percent from 17.50 percent.
2. The report entitled “Inflation and Outlook” explaining the rationale of the above -
mentioned decision will be published within two working days , by also taking into account
of the evaluations made at the Monetary Policy Board meeting held on 8 April 2005.