tcmb decision, 2004-12-20
Moreover, in line with the developments in foreign exchange liquidity observed in FX markets in May 2004, the interest rate applicable to one-week-maturity foreign exchange deposits provided for banks within their borrowing limits at the CBRT Foreign Exchange and Banknotes Markets, which was cut to 6 percent from 10 percent on 11 May 2004, is raised to 10 percent in the light of favorable developments in the foreign exchange liquidity of banks and their efficient liquidity management.
Sentiment: neutral
Topic: mp_interest_rate