The Turkish Central bank shaved another half a percent off the base deposit rates yesterday bringing the rate to a record low of 7.25 percent.

The Central Bank has cut deposit rates by 9.5 percent in the last 11 months; the largest of all the G20 nations.

The bank has said it will continue to reduce rates in an effort to stimulate the economy.

Retail investors should be able to obtain interest rates in excess of the bank base rate by shopping around the high street banks.

Turkish Interest Rate History

The graph below shows just how far deposit interest rates have fallen since 2002 (source tcmb).

Turkish deposit interest rates