Turkish cuts beginning to ease credit markets
The policy rate cuts implemented since November 2008, and the improvements in global risk perceptions have started to exert favourable effects on Turkish credit markets, the country's central bank said in the minutes of its 17 December rate vote.
The minutes also flagged the important role of the sound domestic banking system in supporting the recovery in credit markets. However, the ongoing tightness in lending standards regarding credit to small- and medium-sized enterprises as well as longer
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