1.  The CBRT has decided to cut short -term interest rates applied at the CBRT
Central bank: tcmb | Type: decision | Date: 2005-05-10

No:2005 - 16 10 May 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 10 May 2005 as follows:
a) Overnight Interest Rates: The borrowing interest rate is lowered to 14.50 percent
from 15 percent, and the lending interest rate to 18.50 percent from 19 percent.
b) Other Maturities: The one -week borrowing interest rate is lowe red to 14.50
percent from 15 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 22.50 percent from 23 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 transactions are lowered to 16.50 percent from 17 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 9 May 2005.