Interest rates

[Deniz1]

Had a call from my bank my interest has gone down by 7%. Not unexpected though.

[Brinsley]

That answers the rapid decline in TL against £ $ € Et al.

[IPA]

For TL? The rate is not unexpected but not good for investors with limited returns

[gates]

what rate you getting now then if it gone down buy 7%

[Chriswright03]

Still better than the UK though. Down to 0.25% for Nationwide.

[Deniz1]

8%

[Hair Cut]

Your lucky, our were dropped to 9% months ago.

[laptatony]

Getting 9.5% TL and 3.75% GBP obviously then less tax

[Striker]

Not really. The banks thanks to erdogan increased the tax on both tl and sterling recently.
Realistically getting the percentage drop and paying more tax on it . Hurts most people especially locals .

[erol]

Hurts most people especially locals .

Hurts people with savings. To those without savings it makes no difference at all. To those with very little savings in hurts very little. I am not sure if 'most people' fall in to the category of 'with no or very little savings' or not ?

[EnjoyingTheSun]

Hurts most people especially locals .

Hurts people with savings. To those without savings it makes no difference at all. To those with very little savings in hurts very little. I am not sure if 'most people' fall in to the category of 'with no or very little savings' or not ?

I think the lower interest rates are weakening the TL which is a big problem as the price of oil which is fundamental to most economies is measured in dollars so will be more expensive. So transport costs, energy etc goes up which means the cost of living goes up.
On the positive the price of oil is disappearing up its own backside so it isn't an issue at the moment but long term it will be.

[Deniz1]

The price of oil has dropped dramatically with low demand so in theory energy costs should go down. Wont hold my breath though.

[erol]

The price of oil has dropped dramatically with low demand so in theory energy costs should go down. Wont hold my breath though.

Not just dropped but in some forms and places hit negative as incredible as that seems. That is is some instances producers of oil were paying people to take it away !

How long if ever before we all see a significant drop in electricity and fuel prices here remains to be seen.