The deposit rates offered by banks in
The central bank’s decision last week to pay interest on some portions of required reserves helped push up deposit rates, according to Gur.
The weighted average lira deposit rate with maturities of up to three months has risen to 51% as of
Lira deposits that have a maturities of up to three months make up almost the whole deposit base in the country.
This environment is supportive of switching to lira deposits from the FX-protected deposit programme (KKM), which was introduced in
Since elections held in May,
The KKM deposits fell to TRY2.4 trillion (
Demand for loans in foreign currencies has also started to pick up as the lira stabilised, Gur has also said.
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