April 27, 2017 / 6:28 AM / 3 months ago

Turkey's weighted cost of funding seen at 11.75 pct after cenbank moves, bankers say

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ANKARA, April 27 (Reuters) - The Turkish central bank's recent interest rate hike and liquidity measures are expected to increase the weighted average cost of funding by 25 basis points to 11.75 percent, bankers said on Thursday.

Turkey's central bank surprised investors by hiking the highest of its multiple interest rates on Wednesday, in an attempt to rein in double-digit inflation fuelled by weakness in the lira currency and concerns about policy independence.

On Thursday, it set funding on the Istanbul bourse at 5 billion lira ($1.41 billion) at 9.25 percent, the first time it opted for such a move in weeks.

$1 = 3.5579 liras Reporting by Nevzat Devranoglu; Writing by Tuvan Gumrukcu

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