Overnight rate
Deposit rates climb higher after Central Bank’s move
Turkish banks have hiked their deposit rates and loan rates after the Central Bank, in a surprise move, increased the policy rate by 500 basis points to 50 percent last week.
The average return on three-month lira deposits rose to 55.66 percent. The three-month deposit rate was around 28 percent almost a year ago.
Bank transaction upsets EONIA rate
A jump in Euro OverNight Index Average (EONIA) prices, a key overnight benchmark rate used by European banks to lend money to each other, was caused by the National Bank of Greece's lending money to fellow Greek banks, a Bloomberg report suggested on Monday.
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US Federal Reserve raises interest rates by 0.25%
US Federal Reserve has moved to its first interest rates increase since 2006.
The move takes the range of rates banks offer to lend to each other overnight – the Federal Funds rate – to between 0.25% and 0.5%, as BBC reports.
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