Turkey Cuts Rates by 250 Basis Points for Second Time in Row
- The Monetary Policy Committee lowered its main rate to 45%
- The central bank signaled similar cuts for future meetings
The Monetary Policy Committee led by Governor Fatih Karahan, lowered its one-week repo rate to 45% from 47.5%.
Photographer: David Lombeida/BloombergThis article is for subscribers only.
Turkey’s central bank cut its main interest rate for a second straight month and signaled similar cuts in future meetings by tweaking its guidance.
The Monetary Policy Committee, led by Governor Fatih Karahan, lowered its one-week repo rate to45% from 47.5%. All economists surveyed by Bloomberg had forecast the 250 basis-point reduction.