Turkish Central Bank cuts interest rates by 100 bps in March

Turkish Central Bank cuts interest rates by 100 bps in March

The Turkish Central Bank cut its borrowing and lending rates by 100 basis points inline with the expectations, the Monetary Policy Committee said in its post-meeting statement on Thursday. (UPDATED)

Haberin Devamı

The bank decided to cut borrowing rate by 100 basis points to 10.5 percent; and its lending rate by 100 basis points to 13 percent to boost slowing growth.

Economists had forecasted the bank to reduce its rates between 50 - 125 basis points. 

 

The bank cut the rates for the fifth consecutive time reaching a total of 6.25 percent, while its previous cut was much more than expectations with 150 basis points.

 

 

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