1. The CBRT has decided to cut short -term interest rates applied at the CBRT
Central bank: tcmb | Type: decision | Date: 2005-01-11

No: 2005-3 11 January 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 January 2005 as follows:
a) Overnight Interest Rates: The borrowing interest rate is lowered to 17 percent
from 18 percent, and the lending interest rate to 21 percent from 22 percent.
b) Other Maturities: The one -week borrowing interest rate is lowered to 17
percent from 18 percent.
c) Late Liquidity Window Interest Rates: Within the framework of the Late
Liquidity Window Facility, the CBRT overnight borrowing interest rate
applicable between 16:00 – 16:30 at Interbank Money Market is lowered to 25
percent from 26 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
framework of open market transaction s are lowered to 19 percent from 20
2. As announced in the press release of 20 December 2004, the report entitled
“Inflation and Outlook” explaining the rationale of the above -mentioned decision will be
published within two days, by also taking ac count of the evaluations made at the meeting of
Monetary Policy Board held on 10 January 2005.