Turkey's central bank cut its key interest rate by 200 basis points

Turkey's central bank cut its key interest rate by 200 basis points

Turkey's central bank has decided to reduce the policy rate (one-week repo auction rate) from 18.00 percent to 16.00 on Thursday.

Turkish Lira weakens some 1.3% to 9.4 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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