Money creation
Rise expected in deposit rates
US investment bank Jefferies predicts a further increase in interest rates on time deposits in Greece for 2024, favoring a shift from ordinary savings accounts to time deposits.
To date, Greek banks have on average raised interest rates on deposits by just 15%, compared to a eurozone average of 20%, and based on estimates this rate will increase by 50% within 2024.
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Central Bank reserves stand at $117.8 bln in August
The Turkish Central Bank's total reserves stood at $117.8 billion in August, marking an 11.3% increase compared to the previous month, the bank announced on Sept. 28.
Official reserve assets jumped 11.3%, according to the bank's international reserves and foreign currency liquidity report.