The Central Bank cuts rates by another half a percent.

The Turkish Central Bank cut interest rates by another half a percent yesterday.

The base rate now stands at 9.25 percent.

Rates have reduced by 7.5 percent over the last seven months.

The latest cut will be another blow for savers who rely on their savings interest to meet day to day living expenses.

But the good news for Turkish savers is that they are still getting a positive return on their money after inflation unlike the UK.