Turkey Taking ‘Very Gradual’ Approach to Rate Cuts, Karahan Says
A Turkish national flag hangs above the Arasta Bazaar in Istanbul.
Photographer: David Lombeida/BloombergThis article is for subscribers only.
Turkey’s central bank doubled down on its cautious approach to cutting interest rates in comments on Sunday and said it stands ready to act in the face of global risks adding to uncertainty in the market.
Policymakers are in a “very gradual” rate-cutting cycle, Governor Fatih Karahan said during a panel at an event co-hosted by the International Monetary Fund and Saudi Arabia.