ISTANBUL: The Central Bank has reduced the discount rate applied to rediscount transactions for bills with a maximum of 3 months remaining to maturity and the interest rate applied to advance transactions, the Official Gazette said at the weekend.

Turkish central bank holds rate at 50%, attentive to inflation risks

It said the discount rate applied to rediscount transactions was reduced to 48.25% from 50.75%, and the interest rate applied to advance transactions was reduced to 49.25% from 51.71%.