LATEST NEWS: Turkish central bank drops interest rates
by ChemOrbis Editorial Team - content@chemorbis.com
Turkey’s Central Bank has lowered its key interest rate for a second time in two months on September 12.
Accordingly, the one-week repo auction rate has been reduced from 19.75% to 16.5%.
The Monetary Policy Committee said in the press release that the underlying trend indicators, supply-side factors, and import prices have led to an improvement in the inflation outlook and, considering all the factors affecting inflation outlook, the Committee decided to reduce the policy rate by 325 basis points.
The Committee also said that the central bank’s current monetary policy stance is largely considered to be consistent with the projected disinflation path.
Accordingly, the one-week repo auction rate has been reduced from 19.75% to 16.5%.
The Monetary Policy Committee said in the press release that the underlying trend indicators, supply-side factors, and import prices have led to an improvement in the inflation outlook and, considering all the factors affecting inflation outlook, the Committee decided to reduce the policy rate by 325 basis points.
The Committee also said that the central bank’s current monetary policy stance is largely considered to be consistent with the projected disinflation path.
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