Turkey lowers its key interest rate for a sixth time
At 50bps it’s the smallest so far in an aggressive easing cycle, with the central bank saying it will monitor developments in credit growth
19 February 2020 - 17:46
Istanbul — Turkey’s central bank lowered its key interest rate by 50 basis points (bps) to 10.75% as expected on Wednesday, its sixth consecutive rate cut and the smallest so far in an aggressive easing cycle, which analysts said is nearing its end.
The bank cut its benchmark one-week repo rate from 11.25%, pushing real rates deeper into negative territory for locals with lira deposits after year-on-year inflation rising to 12.15% in January...
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