August 6, 2019 / 9:13 AM / a month ago

Turkish finmin: public banks' loan rate cut boosting construction sector -Twitter

ANKARA, Aug 6 (Reuters) - Turkey’s finance minister said on Tuesday a loan rate discount from three public banks has lead to a record high demand for mortgage loans over the past two days, giving the construction sector an “anticipated” boost.

Three big lenders, Vakifbank, Halkbank and Ziraat Bank had cut their loan rates last week, following the central bank’s interest rate cut. Finance Minister Berat Albayrak said on Twitter that the “achievements of rebalancing process will be extended.”

Reporting by Tuvan Gumrukcu; Writing by Ece Toksabay

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