Turkish central bank could cut overnight lending rate to 10pc

KAYSERI: Turkey's central bank governor said on Monday the bank's overnight lending rate of 12 percent was very tight and could be reduced gradually to 10 percent if necessary.

"The 12 percent lending rate is very tight, we can gradually reduce it to 10 percent if necessary. We have room for manoeuvre here," Erdem Basci said at a conference in the city of Kayseri.