Turkey holds rates

The Central Bank of the Republic of Turkey decided to keep its short-term interest rates unchanged on Tuesday.

The central bank said inflation was falling due to the "lagged effects of strong monetary tightening" and said it anticipated making a rate cut in the last quarter of 2007.

The central bank's overnight borrowing rate remains 17.5%, the lending rate is 22.5%. The interest rate on overnight and one-week maturity borrowing facilities provided for primary dealers via repo transactions stays

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