World News

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

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)