Banks continue to lower interest rates

       Banks continue to lower their interest rates in parallel with the expectations for fall in the inflation rates. Latest reports say that Yapi Kredi, Akbank, Etibank, Tekstil Bank, Yasarbank and Toprakbank made new reductions in their short - term deposit rates.
       According to an announcement from the Yapi Kredi Bankasi, single month termed deposit rates were pulled down to 63% from 65%, 3 - month rate was reduced from 70% to 68% and 6 - month deposit rates were dropped to 73% from 75%. Written statement of Akbank on the other hand cites that the deposit rates for 1, 3 and 6 month terms are reduced from 65% to 63%; from 70% to68% and from 75% to 73%. The statement says that the one - year 70% deposit rates remain intact.