Turkey's central bank cut its key interest rate by 100 basis points

Turkey's central bank cut its key interest rate by 100 basis points

Turkey's central bank has decided to reduce the policy rate (one-week repo auction rate) from 19.00 percent to 18.00 on Thursday.

Turkish Lira Weakens some 1.5% to 8.8 against the U.S. dollar after the bank’s Monetary Policy Committee rate decision.

“The Committee will continue to take its decisions in a transparent, predictable, and data-driven framework,” the bank said in a statement.

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