Turkey slashes interest rates by 150 basis points despite inflation at 83%

Turkey's central bank cuts interest rates by 1.5%, suggesting a drastic rate cut next month is the lowest lira

[İstanbul 20th Reuters] - The Turkish Central Bank lowered the weekly repo rate of the main policy interest rate by 1.50 percentage points to 10.5% at the monetary policy committee meeting on the 20th. A similar drastic rate cut was implemented next month, and after that, it was confirmed that the mitigation cycle called for by President Erdogan would be stopped. The central bank pointed out that there is a need for a financial environment that …

Turkish central bank cuts rates for third month

Türkiye’s central bank on Oct. 20 cut its policy rate for the third consecutive month.

Turkish central bank makes huge rate cut amid 83% inflation

Turkey's central bank has slashed interest rates for the third month in a row, making its biggest drop this year despite sky-high inflation that is squeezing people's finances as it follows President Recep Tayyip Erdogan's unorthodox economic views.

Turkish central bank makes huge rate cut amid 83% inflation

Turkey’s central bank has slashed interest rates for the third month in a row, making its biggest drop this year despite sky-high inflation that is squeezing people’s finances

Turkish central bank makes huge rate cut amid 83% inflation

ISTANBUL (AP) — Turkey’s central bank has slashed interest rates for the third month in a row, making its biggest drop this year despite sky-high inflation that is squeezing people's finances as it follows President Recep Tayyip Erdogan’s unorthodox economic views.

Turkish central bank cuts rates for third month

Turkey's central bank on Thursday cut its policy rate for the third consecutive month despite plunging lira and an annual inflation rate that has soared over 83 percent.