INTEREST RATES

[angryumpire]

Despite inflation in March reaching 10.2% in April (9.6% in March) the Central Bank kept interest rates on hold at 6.5%.

This is now the sixth consecutive month that interest rates have been at this rate.

The bank reiterated previous guidance that rates are likely to remain “at present levels for a while longer and stay at low levels for a long time.”

Retail savers can expect banks to offer interest rates of around 8.5% or 7.2% after tax. But with inflation at 10.2%, returns on cash are now negative in real terms on monthly Lira Deposit Accounts.

[angryumpire]

The Central Bank reduced the interest rate to 6.25% on Thusday 16th Sept., a reduction of .25% after holding the previous rate for 10 months.

With inflation running around 9%, monthly lira deposit accounts are still in negative equity.

[angryumpire]

The Central Bank of Turkey just reduced the rate from 6.25% to 5.75%.

With inflation running around 8.8%, monthly lira deposit accounts are still in negative equity.

Coinmill are showing an exchange rate of 2.81 lira - £1.00

[angryumpire]

COINMILL are showing 2.97 lira to £1.00 today, time to make a killing, or will it go higher

All you rich people, get stuck in.