December 27, 2019 / 10:02 PM / a month ago

Turkish central bank lowers interest rates on credit cards: Official Gazette

FILE PHOTO: A logo of Turkey's Central Bank (TCMB) is pictured at the entrance of the bank's headquarters in Ankara, Turkey April 19, 2015. REUTERS/Umit Bektas

ANKARA (Reuters) - Turkey’s central bank lowered the maximum limit for monthly interest rates on credit cards to 1.40% from 1.60% previously for Turkish lira, Turkey’s Official Gazette said on Saturday.

It lowered the interest rate for foreign currency debt on credit cards to 1.12%, those for delayed payments in Turkish lira to 1.70% and those for delayed foreign currency payments to 1.42%, the statement on the Official Gazette said.

Reporting by Ece Toksabay; Writing by Ali Kucukgocmen; Editing by Chris Reese

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