Turkey’s central bank cuts rates for seventh straight month
The bank kept its benchmark one-week repo rate and overnight borrowing rates unchanged at 7.5% and 7.25%, respectively.
A Turkstat report this month shows that domestic demand was affected by July’s failed coup attempt and decelerated in the April-June period when compared to the first quarter. Markit’s manufacturing PMI also showed a slowdown in activity following the events in July.
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