1.  The Central Bank of Turkey (CBRT) has decided to cut short -term interest rates
Central bank: tcmb | Type: decision | Date: 2005-11-09

No:2005-39
9 November 2005
PRESS RELEASE
CBRT INTEREST RATES
applied at the CBRT Interbank Money Market and at the Istanbul Stock Exchange Repo -
Reverse Repo Market starting from 9 November 2005 as follows:
a) Overnight Interest Rates: The borrowing interest rate is lowered to 13.75 percent
from 14 percent, and the lending interest rate to 17.75 percent from 18 percent.
b) Other Maturities: The one -week borrowing interest rate is lowered to 13.75
percent from 14 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 21.75 percent from 22 percent.
Borrowing interest rate of 5 percent remains the same.
d) The interest rates applicable to overnight and one -week maturity borrowin g
facilities provided for primary dealer banks via repo transactions within the framework of
open market transactions are lowered to 15.75 percent from 16 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
the evaluations made at the Monetary Policy Board meeting held on 8 November 2005.