Interest rate in Turkey soars to 8 year high

Baku. 23 August. REPORT.AZ/ According to the results of the bonds auction held on August 22 by the Turkish Treasury, the interest rate of the bonds has risen to the maximum level of the last 8 years. 

Report informs citing the Bloomberg, the interest level was 11,71% at the auction.

Analysts consider that the reason of this is increase of demand for the local and foreign currency to finance the budget expenses.

Analytical Group of Report considers that the process of interest increase in Turkey will continue in line with the same-oriented movement on the global financial market. Along with it, the weakening of the local currency will be observed.