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Turkey’s central bank cuts interest rates by 0.25%

by ChemOrbis Editorial Team -
  • 24/02/2015 (18:03)
According to media reports, Turkey’s Central Bank (TCMB) has cut its overnight lending rate by 25 basis points to 10.75% from 11.25% and the overnight borrowing rate to 7.25% from 7.5%. The bank also cut its one week repo rate to 7.5% from 7.75%.

The bank cited increased volatility in prices as the main reason behind their decision. For a while, the Turkish government had been asking the central bank to cut interest rates in order to boost economic growth.
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