The Turkish governor of the TCMB, Erdem Basci, raised rates on overnight lending and borrowing to stop the slide in the Turkish Lira. Lending rates now stand at 12%, while borrowing rates were raised to 8%. During a single trading day last week, the Turkish Lira slid 15%. There was a moderate rebound in the Lira in todays trading.

Borrowing Rates, Central Banks, Economy, Erdem Basci, Lending Rates, Turkey