Monetary policy: Turkish Central Bank cuts key interest rate after longer pause
Previously, the central bank had left the interest rate unchanged at the five previous meetings. Meanwhile, the inflation rate remains at a high level.
The Central Bank of Turkey has lowered its key interest rate from 37 to 36 percent, resuming its easing cycle after a multi-month pause. The move was widely expected by analysts. The Turkish lira remained stable after the decision, trading at 49.63 against the US dollar. The bank had kept the rate unchanged at its previous five meetings, waiting to assess the inflation impact of the Ukraine war, which started in late February. The inflation rate was 29.73 percent in September.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
