A development as Important as Interest Reduction

TIM President Büyükekşi evaluated 'Reduction of Required Reserve Ratio' decision:

Turkish Exporters Assembly (TIM) President Mehmet Büyükekşi evaluated Central Bank's decision of 'Reduction of Required Reserve Ratio'. TIM President stated 'There was a 50 base point reduction of Reserve Ratio on August 9th. Another 50 base point reduction was made today. A serious liquidity flow will have been ensured in markets with these reductions. We anticipate this increase of liquidity will result in decline of credit expenses. A possible decline in commercial credit interests applied by banks will help our exporters to reach low-cost credit. Therefore, this decision of Central Bank will create increase in investments and make a positive impact in export in parallel”.

Touching upon that Central Bank's recent decisions made significant contributions in improvement of our country's environment of investment and development of export, Büyükekşi told “Central Bank actualized considerable reductions in upper band of interest corridor as of March. Recently, such assuring steps have supported markets by decreasing required reserve ratios. We believe that reducing required reserved ratios is as significant as decisions of interest discount. Continuity of the decrease in reserved ratios in forthcoming periods is our biggest wish. We are of the opinion that a few points of discount is necessary. The support that Central Bank provided should be reflected by banks to investors and exporters. Therefore, it will be paved the way for investments and exports in the country.”