Turkish central bank cuts renumeration rate for lira required reserves

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ISTANBUL – Turkish central bank cut on Friday the renumeration rate for Turkish lira required reserves to 10.5% from 12.5% as of October 22.

In a statement, the central bank also said, remuneration rates that differ between 10.5% and 16% will be applied to increase the share of Turkish lira in the total deposit/participation funds in the banking system.

Reuters

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