Interest rate increase?

[13roman58]

Turkish central bank has increased the rate to 15% from 10.25%.
I wonder what the banks do here?

[EnjoyingTheSun]

Turkish central bank has increased the rate to 15% from 10.25%.
I wonder what the banks do here?

They are quick enough to reduce interest rates paid so you would expect that they reflect the increase.
Bit like petrol and oil prices

[torontomapleleaf]

The increase is only on TL. foreign unchanged.

[EnjoyingTheSun]

The increase is only on TL. foreign unchanged.

You would think a bit of foreign currency coming in might be attractive but I can see they want to prop up the TL.
Pleased for those who are ‘all in’ on the TL though