Union of Chambers and Commodity Exchanges of Turkey

Hisarcıklıoğlu made the following statements in his statement:

“The Central Bank cut the policy rate by 2.5 points to 42.5 percent. The Central Bank policy rate has decreased by 7.5 points in 3 months.

Banks immediately reflect these reductions to deposit rates. However, commercial loan rates do not decrease at the same rate.

What are banks waiting for to reduce commercial loan rates?

We expect them to reflect this reduction primarily on SME loan rates and support production, investment and employment.

Restrictions on commercial loan growth also create inflationary pressure by increasing costs and restricting supply in the economy.

Growth restrictions on commercial loans should be reviewed, starting with SME loans.”