Turkish central bank cuts renumeration rate for lira required reserves

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

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