Money Interest Rates on Hold Again
Sunday, 01 October 2006 01:00
The Central Bank decided to keep interest rates on hold at their meeting on Tuesday.
The bank base rate deposits were held again at 17.5%. The Central Bank is trying to bring inflation pressures under control and has said that their policy is starting to work. However, they have warned that they will increase rates if inflation starts to rise again. But economists are split over which way they think the bank will move next. Some say that they will cut rates next month but others say there will not be a change until 2007.
Whatever their decision those of you with Lira deposit accounts can enjoy interest on your savings averaging 18.5% before tax (15.73% net).
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